The Mayor of London’s flagship Right to Buy-back scheme has brought more than 1,500 homes back into public ownership.
Since the scheme’s launch in July 2021, 14 boroughs have been allocated £152m to purchase 1,577 market homes that will be made available at affordable rates.
The homes will be either council homes let at social rent or homes to be let as accommodation for homeless households. This includes a total of 908 homes to be let at social rent levels.
In August last year, Mayor Sadiq Khan expanded the Right to Buy-back programme as part of a wider offer to help councils support the arrival of Afghan refugees. Through this expanded offer, he funded two London boroughs – Hounslow and Islington – to purchase 39 homes for recently arrived Afghan families.
Mayor Khan commented: ‘For more than 40 years, London’s precious council homes have been disappearing into the private sector, often never to be replaced. As Mayor I have maintained a relentless focus on stemming the tide and replenishing London’s social housing stock.
‘I am proud that, thanks to my interventions, we have brought council homebuilding back up to levels not seen since the 1970s and I’m hugely encouraged by the enthusiasm I see from boroughs across London for building new council homes and using my Right to Buy-back scheme to return homes to public ownership.
‘These homes were built for the public good and it has been painful to watch them disappear into private portfolios. Returning these homes to public ownership is a key part of my plan to build a better London for everyone – a city that is greener, fairer and more prosperous for all.’
