William Eichler 22 October 2018

Right to Buy should be more ‘flexible’, think tank says

Social housing tenants should be given the option of using the value of their Right to Buy discount to purchase a different home, a free market think tank has argued.

A new report from the Adam Smith Institute says that while Right to Buy works for some social tenants, others live in expensive properties which they cannot afford to buy.

Almost 700,000 local authority owned homes are in areas where median house prices exceed £250,000, according to the report. Over 200,000 of these are in areas where median house prices exceed £500,000.

The think tank says Right to Buy should be made more ‘flexible’ so that social tenants can use the discount to purchase a house in a more affordable area.

The tenant’s previous home would then be sold, funding the discount and raising additional revenue.

A conservative estimate of the impact would see 21,000 tenants take advantage of the scheme with £2bn of discounts on £9bn of stock and net receipts of £7bn.

The report says that housing stock would then be better matched to people’s circumstances and there would be a ‘cooling effect’ on overheated local markets.

SIGN UP
For your free daily news bulletin
Highways jobs

Head of Biodiversity and Climate Resilience

Cherwell District Council
£68,930 - £73,320.50
This is a high-impact leadership role focused on delivering Cherwell's Climate Action Plan Oxfordshire
Recuriter: Cherwell District Council

Executive Director of Neighbourhood Services

Cherwell District Council
£113,435.50 - £125,379 / Grade
This is more than a leadership role - it's an opportunity to leave a lasting legacy Oxfordshire
Recuriter: Cherwell District Council

Head of Chief Executive's Office

Cherwell District Council
£68,930 - £73,320.50 / Grade M
This is a pivotal leadership position at the heart of the Council Oxfordshire
Recuriter: Cherwell District Council

Short Breaks Community Officer

North East Lincolnshire Council
£28,142 FTE
This is a varied role where no two days will be the same. North East Lincolnshire
Recuriter: North East Lincolnshire Council

Casual Cleaning Assistant

Durham County Council
Grade 1 £24,796 Pro rata to hours worked £12.85 per hour
Are you looking for work that fits around your schedule and lifestyle? Casual Cleaning Assistants required post based at the Empire Theatre, Consett. Consett
Recuriter: Durham County Council
Linkedin Banner