Right to Buy Scheme – Parliamentary Written Answer

Graham Jones: To ask the Secretary of State for Communities and Local Government (1) what steps his Department is taking to monitor the effect of the Preserved Right to Buy on the number of affordable homes;  

(2) how many homes have been sold to date through the Preserved Right to Buy; what steps his Department takes to ensure such homes can be replaced; and how many homes sold under Preserved Right to Buy have been replaced to date.  

Kris Hopkins:In the first year of the reinvigorated scheme (2012-13), there were 2,458 preserved right to buy sales.  As housing associations are independent organisations, and stock transfer agreements are private commercial contracts, we do not mandate what they do with receipts they receive from preserved right to buy sales. It is the Department’s expectation that these receipts should be used to help fund new homes for affordable rent, and we would encourage housing associations to work in partnership with local authorities, and use other sources of cross-subsidy, to help achieve this.