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Right to Buy take-up almost doubles | Right to Buy take-up almost doubles |
(35 minutes later) | |
More than 2,000 tenants took up the government's Right to Buy discount scheme for social housing in England during the last three months of 2012. | More than 2,000 tenants took up the government's Right to Buy discount scheme for social housing in England during the last three months of 2012. |
This represents a near-doubling of the figure for the previous three months. | This represents a near-doubling of the figure for the previous three months. |
Under the coalition's extended Right to Buy programme, launched last year, tenants get discounts of up to £75,000. | Under the coalition's extended Right to Buy programme, launched last year, tenants get discounts of up to £75,000. |
Ministers say this will help reinvigorate the market but opponents argue it will reduce rental stock for people on low incomes. | Ministers say this will help reinvigorate the market but opponents argue it will reduce rental stock for people on low incomes. |
Altogether, 2,009 households took up the scheme from October to December last year, up from 1,041 in July to September. | Altogether, 2,009 households took up the scheme from October to December last year, up from 1,041 in July to September. |
The figure for April to June - the first period under the new scheme - saw 443 sales, the Department for Communities and Local Government said. | The figure for April to June - the first period under the new scheme - saw 443 sales, the Department for Communities and Local Government said. |
Right to Buy first started under Margaret Thatcher's Conservative government, but take-up dwindled as the discounts offered failed to keep pace with the rate of property price inflation. | Right to Buy first started under Margaret Thatcher's Conservative government, but take-up dwindled as the discounts offered failed to keep pace with the rate of property price inflation. |
In 2010 the government launched a consultation on "re-invigorating" the right to buy and the £75,000 discount, introduced last year, represents a quadrupling of the previous discount cap in London and a trebling in most parts of Britain. | In 2010 the government launched a consultation on "re-invigorating" the right to buy and the £75,000 discount, introduced last year, represents a quadrupling of the previous discount cap in London and a trebling in most parts of Britain. |
The scheme now offers discounts of up to 60% for the value of a house and 70% for a flat. These apply to people who have been council or social housing tenants for at least five years. | The scheme now offers discounts of up to 60% for the value of a house and 70% for a flat. These apply to people who have been council or social housing tenants for at least five years. |
Housing minister Mark Prisk said Right to Buy had "opened the door to home ownership for thousands of tenants across the country". | Housing minister Mark Prisk said Right to Buy had "opened the door to home ownership for thousands of tenants across the country". |
"I'm delighted to see so many taking up this opportunity," he added. | "I'm delighted to see so many taking up this opportunity," he added. |
"But from the 200,000 visitors on our website, to the councils that report to me the surge they've seen in applications, I know there are many more that want to follow in their footsteps." | "But from the 200,000 visitors on our website, to the councils that report to me the surge they've seen in applications, I know there are many more that want to follow in their footsteps." |
He urged tenants interested in buying their home to get in touch with their council or visit the href="http://righttobuy.communities.gov.uk/?utm_source=Bing&utm_medium=PPC&utm_campaign=RtBuy" >Right to Buy website. | |
However, opponents say selling properties will reduce the rental housing stock available for those on low incomes. | However, opponents say selling properties will reduce the rental housing stock available for those on low incomes. |
Have you bought your house or tried to buy using the Right to Buy scheme? Get in touch using the form below: | Have you bought your house or tried to buy using the Right to Buy scheme? Get in touch using the form below: |