Number of tenants buying their council home doubles in past year
The number of people buying their council home has doubled since last year, according to new figures on the Government’s Right to Buy scheme.
The figures show that Right to Buy sales doubled from 1,041 between July and September 2012, to 2,010 between October and December of that year. This means 3,495 council-owned properties have been sold since the scheme was re-launched last April, generating £210.
Housing minister, Mark Prisk, said: ‘The reinvigorated Right to Buy has opened the door to home ownership for thousands of tenants across the country and I’m delighted to see so many taking up this opportunity.
‘But from the 200,000 hits 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.’
Right to Buy offers tenants discounts of up to £75,000 of the value of their homes. Income raised from the scheme was be invested back into affordable homes for rent.