Council Houses Are Now Being Sold Off For £59,000 Each

The government is selling off the country’s remaining council homes at lower prices than ever before despite a soaring housing market. In 2010, the year the Coalition came to power, the average sale price for social homes in England was £81,695. By 2013, the last year for which data is available, the government’s hike in discounts had cut the average sale price of a council home to £59,044. Revenue is likely to fall even further this year, as the 70% discount comes into force. Even if these council homes are replaced, the replacements would have to be at “affordable” rent, as much as 80% of the market rents in that area. In some areas of London (Zone 2) that would be over £1,000 a week for a three bedroom flat. Read more on the Buzzfeed website.