Friday, 11 May 2012

Tenants Show Appetite for Right to Buy

English councils warn sharp rise in sales will leave them unable to replace much-needed homes.  Right to buy applications have surged following the government’s decision to increase the discount to £75,000, according to an Inside Housing survey.  In London, where discounts have quadrupled in most areas, applications from tenants in April alone have exceeded half the number received in the previous 12 months, leading to fears that councils could lose large swathes of their housing stock.  Based on figures from 18 London boroughs, councils received an average of 39 applications in April, compared with 67 in the whole of 2011. At this rate, each council will receive more than 800 applications this year.  Away from the capital, Birmingham has received 172 applications, compared with 601 in total last year, while Sandwell received 60 applications in April - three times as many as April 2011.  Read more on Inside Housing.

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