Affordable Housing: Construction
The question
To ask the Secretary of State for Housing, Communities and Local Government, with reference to the Written Statement of 28 October 2024 on Social and Affordable Housing: Next Steps, HCWS169, if she will make an estimate of the (a) number of Right to Buy sales and (b) associated funding for replacement dwellings in each of the next four years.
Answered by Matthew Pennycook
The Review of the Increased Right to Buy Discounts introduced in 2012 includes figures on the impact of the new reduced maximum discounts.
We estimate that an average of 1,700 sales will take place annually which will generate, on average, approximately £250 million of net receipts every year.
Annex A of the Review outlines the assumptions about future sales and receipts on which the Right to Buy reforms are based.
As confirmed at Budget, the government is allowing councils to retain the full capital receipt generated by a Right to Buy sale to support the delivery of replacement dwellings.
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