Social homes sales have risen by 128% in five years

  • Figures released by the Communities and Local Government department shows that the number of social homes sold has risen by 128% in five years.

    In 2012-13, 16,659 social homes were sold, however in 2008-09 only 7,309 were sold. The number of sales for this year to April had increased by 72% from the previous year.

    More than half of the social homes sold last year were brought with through the right to buy scheme. The 8,398 figure of was more than double the amount bought the previous year and the new junior housing minister said that he believed that this rise is down to the government increasing the discount cap to £75,000 in April 2012, reports Inside Housing.

    Of the total overall sales in 2012-13, 6,739 homes were bought from councils which was more than double the amount form the previous year and the highest in five years.

     Mr Hopkins said: ‘For years the right to buy was allowed to wither on the vine, with ever-decreasing discounts leaving the prospect of home ownership out of reach for far too many social tenants.

    ‘But our reinvigorated scheme has changed that, with increased discounts helping more than 10,000 new homeowners onto the property ladder.

    ‘And because we've committed to using the additional money raised towards funding new affordable homes for rent, we're also getting Britain building and will soon have the fastest rate of affordable house building for 2 decades.'

    David Cameron said: ‘The success of right to buy shows how the new reinvigorated scheme is opening up the prospect of home ownership to even more people across the country.

    He continued: ‘What is more, we're ploughing the additional money from right to buy sales straight back into building more affordable homes. Whether it's through right to buy, support with mortgages or getting more houses built, we are helping more and more hardworking people to buy somewhere to live and get on in life.'

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