A combination of selling council houses as they become
vacant and Housing Association homes being sold off under the new Right to Buy
risks reducing the number of new lettings by up to 19,100 per year. Will those on low incomes will be able to
afford replacement homes? If replacement
homes are for shared ownership or let at a market-linked rent rather than the
current social rents, then the answer is probably not. Just 3% of new social renters could afford
to buy a shared ownership property. In real terms, this means after five years
we’ll have up to 13,000 more families stuck in homeless accommodation, and
61,000 more paying an average of £1668 a year more to rent in the private
sector. But, if the new homes are let at the same rents as the homes they
replace, Right to Buy could actually increase the number of low cost homes
available to rent. Read more on the Joseph Rowntree Foundation website.
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