Right To Buy Future Under Threat From £5bn National Discounts

Tenants have received discounts of nearly £5bn to help purchase their council home under Right to Buy (RTB) since the size of the discount was increased in April 2012, new analysis by the Local Government Association (LGA) reveals. The LGA warns the scheme faces an uncertain future unless councils are given the flexibility to set discounts locally and retain 100% of sales receipts to fund replacement homes. The national RTB discount, set by government, currently averages 42% of market value. Since the Government increased the size of the RTB discount in April 2012, the average discount on a property has increased by 137% to more than £63,000. Read more on the LGA website.

https://www.local.gov.uk/lga-ps5-billion-national-discounts-threatening-future-right-buy