New analysis by the Local Government Association reveals
almost £3.5 billion in Right to Buy (RTB) discounts have been handed out to
council tenants over the past six years. The LGA, which represents 370 councils
in England and Wales, is warning the RTB scheme has become unsustainable and
risks becoming a thing of the past unless councils are given the powers to set
discounts locally and replace every home sold. The Government increased the
size of the discounts available in April 2012, as a result the average discount
has increased by 132 per cent to more than £60,000 in 2016/17 – selling
properties at almost half price. Read more on the LGA website.
Unit owners are wresting back control of their stratas: ‘If I don’t do it,
the building will fall into the street’
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Amid high costs and low confidence in the industry, some owner-occupiers
are taking on Australia’s commercialised strata system
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9 hours ago
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