0.5% of social housing homes sold off in last year
The government’s latest figures reveal that 20,891 social housing dwellings were sold off over 2017-18 – 0.5% of the country’s stock of four million.
Sales were down 10% on the previous year but, fear not, the Ministry of Housing, Communities and Local Government (MHCLG) seems pleased that the figures ‘are still above the 8,061 sales before the introduction of increased Right to Buy (RtB) discounts in 2012’.
The sales break down thusly: 12,059 were by local authorities; 8,832 by private registered providers (PRPs). Local authority RtB sales amounted to 11,833, a decrease of 12% on the previous year; and 4,223 RtB sales by PRPs, down 10% on the previous year.
RtB sales totalled 16,056 and accounted for 77% of all sales.
In 2017-18, local authority RtB sales had an average discount of 42% – 15 percentage points higher than in 2011-12. Meanwhile, PRP RtB sales had an average discount of 51% of the selling price, 20 percentage points higher than in 2011-12.
Ministers’ glowing comments to follow as and when they appear.
In the meanwhile, here’s the report.