Over 50,000 households have purchased a home in the last four years under the Government’s Right to Buy scheme, new figures show.
The data, released by the Department for Communities and Local Government (DCLG), revealed 56,000 households have bought homes under Right to Buy since the policy was revived in 2012.
The DCLG also calculated over 3,350 households were bought under the scheme in the three months to June - a 21% increase from the same time last year. Councils earned £283m from these sales.
‘From London to Leeds, Right to Buy plays an important part in building a country that works for everyone, helping thousands of people become homeowners for the first time,’ said housing and planning minister Gavin Barwell.
‘And we’re determined to replace the additional homes sold on a one-for-one basis, nationally - providing new affordable homes for rent for those who need them.’
The Local Government Association (LGA) has, however, warned that councils are struggling to replace the houses sold-off under Right to Buy.
They reported last month that 12,246 council homes were sold off to tenants under Right to Buy in England last year, with just 2,055 replacements started by councils.
The local authority representatives also said councils would struggle to replace the 66,000 properties expected to be sold off by 2020 without an overhaul of discounts and sale receipts.