The controversial Right to Buy scheme is set to reduce the dwindling social housing stock by nearly 190,000 properties by 2040, new research has revealed.
Figures from the development consultancy Marrons show that 89,091 social rent properties owned by councils were sold through Right to Buy nationally between 2015/16 and 2022/23.
The consultancy estimates that if this continues at its current level, it will result in a loss of 189,318 social homes by 2040.
Craig Pettit, planning director at Marrons, described the forecast as ‘harrowing’ because of the increase to 1.2 million of the number of people on social housing waiting lists in 2023.
Birmingham is the local authority area that is set to lose the greatest number of social homes through the scheme by 2040 (10,504), followed by Leeds (9,110), Sheffield (6,058), Leicester (5,895) and Nottingham (5,138).
Sandwell (4,420), Hull (3,878), Wolverhampton (3,770), Barking and Dagenham (3,283), and Wigan (3,100) make up the remainder of the top 10.
