“Right to buy” sales of council houses to tenants have reached their highest level since 2007, the Government said today.
Almost 3,500 homes have been sold since the scheme was reinvigorated by the Government last April, in a move which raised the potential discount a tenant could receive off the value of their home to £75,000, from just £16,000 in some areas.
In Northamptonshire, 54 homes have been sold under the scheme since April, with nine of those in Corby, 13 in Kettering and the rest in Northampton.
The 3,495 council-owned properties which have been sold in England since the revamp is already a third higher compared with the whole of the financial year 2011/12, according to the Department for Communities and Local Government (DCLG). The last time that sales were running at similar levels was during the year 2007/8, the department said.
Right to buy sales surged towards the end of last year. There were 2,010 sales made between October and December, which was double the number during the previous quarter.
The £210 million generated from last year’s sales will be recycled towards building more affordable homes to rent, the Government said.
Right to buy, a scheme which is widely associated with the Margaret Thatcher era, offers tenants in England discounts of up to 60% for a house and 70% for a flat, up to a maximum of £75,000.
More information for people considering the right to buy can be found at the website communities.gov.uk/righttobuy.