RTB Sales Decrease But Replacements Fall Short Of 1 For 1 Target

The latest government figures  show that sales of council housing under the Right to Buy (RTB) fell in the quarter to 31 March 2018 by 18% over the previous quarter, but the government continues to fall short of the promised one for one replacement of homes sold under the reinvigorated RTB from 2012. In Quarter 4 (January to March 2018), councils sold an estimated 2,772 dwellings under the RTB scheme compared to the 3,313 sold in the same quarter of 2016-17 this is a decrease of 18%. The average capital receipt per dwelling sold in quarter 4 2017-18 was £83,000. Under the government's one for one commitment made under the Reinvigorated RTB introduced in 2012, local authorities have 3 years from the date of the sale of each additional home to provide a replacement home, but can only use RTB receipts to a maximum of 30% of the cost of providing a replacement. Read more on the ARCH website.

http://www.arch-housing.org.uk/news/latest-news/rtb-sales-decrease-but-replacements-fall-short-of-1-for-1-target.aspx