The scramble to net properties under last year's
reinvigorated right-to-buy continues. Figures show that councils sold an
estimated 2,149 dwellings under the scheme between April and June 2013, nearly
five times the 443 sold in the same quarter of the previous year. In April
2012, the government increased the maximum cash discount to £75,000, rising to
£100,000 in March 2013 for tenants in London. According to the CLG, all
additional homes sold as a result of the increased right-to-buy discounts will
be replaced with a new affordable rented home. But Councils can only use 30% of
receipts towards building new properties and must spend receipts within three
years. The Local Government Association
says that the government is putting councils in "an impossible
situation" by dictating the discount they have to offer. "The best
way would be to allow councils to set the right-to-buy discount locally and
give them the full freedom to reinvest all of the receipts into new affordable
housing," said a spokesperson. Read more on the Guardian website.
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