A few constituents have expressed concerned about Right to Buy for Housing Association properties, asking if it means there will be fewer homes. On the contrary, there will be more homes overall as a result of Right to Buy, as the money from the sale can be spent on building an additional home. After a RTB sale there are still the same number of homes with the same people living in them, but there is extra cash to build more.
Since 2012 more than 36,000 new homeowners have been created through Right to Buy. The money freed can be reinvested. £850 million has been reinvested in affordable house building – with another £2 billion set to come in over the next two years. Under Right to Buy, every additional home sold will be replaced by a new affordable home to rent and local authorities are already delivering one for one replacements on additional sales.
With over 200,000 households helped into home ownership through Government schemes since 2010, this is part of our wider efforts to help anyone who works hard and wants to own their own home.
August 14, 2015
“Under Right to Buy, every additional home sold will be replaced by a new affordable home to rent and local authorities are already delivering one for one replacements on additional sales.”
That’s a lie, John.
“With over 200,000 households helped into home ownership through Government schemes since 2010”
FTBer numbers have been stuttering again, as the schemes that ‘helped’ buyers pushed up prices. So hundreds thousands of other FTBers and upsizers are punished.