The Conservative Party’s suggestion that £4.5bn could be
raised by selling high value council homes to part fund its planned extension
of Right to Buy to housing associations is highly questionable, according to
research by Savills. Their analysis suggests the total value of housing in the
UK is £5.75 trillion - with social housing accounting for £374bn based on its
existing use value, or £894bn at market value. The Savills analysis calculates
that the average value of a social home in England is just under £208,000 - but
the Conservative Party’s plans to sell 15,000 vacant council homes a year
raising £4.5bn assumes an average sale value of £300,000. Read more on the
Savills website.
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