Right to buy boosts home ownership

December 15, 2015

According to a recent press release from the Department for Communities and Local Government and Brandon Lewis MP, Right to Buy is boosting home ownership across the country.

Nearly 270,000 households have now been helped to purchase a home through government backed schemes including Right to Buy and Help to Buy since 2010.

This has been boosted by latest figures showing nearly 3,000 people bought under the Right to Buy scheme between July and September, a 3% increase.

And councils received £230 million from sales of homes – a 9% increase for the same quarter last year – which will go towards building additional homes.

For every property sold under Right to Buy a new additional affordable home will be provided which will further increase housing stock nationwide.

The top 10 places taking up Right to Buy are: Birmingham, Leeds, Sheffield, Sandwell in the West Midlands, Southwark, Greenwich (both in London), Nottingham, Leicester, Barking and Dagenham in London, and Wolverhampton.

Check out full press release on Government website

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Ignoring these simple winter property maintenance tasks could cost you big time

The latest research from nationwide cash buying company and quick sale specialists, Springbok Properties, has revealed that failing to complete some of the most common winter home maintenance tasks could cost homeowners thousands of pounds, as ignored issues turn into major repair jobs over the colder months. Springbok Properties analysed a series of essential winter…
Read More →
how to present your property for sale
Breaking News

Half of first-time buyers delaying until after the Budget

The latest research from eXp UK has revealed that almost half of first-time buyers (47%) have paused their homebuying plans until after the Autumn Budget, as uncertainty around potential tax and housing policy changes continues to weigh on buyer confidence. However, it’s not short-term tax tweaks they’re waiting for. The survey of aspiring homeowners, commissioned…
Read More →
Breaking News

Moneyfacts Average Mortgage Rate dips below 5%

The Moneyfacts Average Mortgage Rate has dropped below 5%. The latest analysis by Moneyfactscompare.co.uk reveals how the rate has changed over time.  Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said: “Borrowers will no doubt be thrilled to see mortgage rates drop, particularly the millions due to come off a cheap fixed rate before the year is…
Read More →
Breaking News

Does the market even need a Budget boost?

The latest market analysis from London lettings and estate agent, Benham and Reeves, has suggests that, despite mounting speculation around what support might come for homebuyers in the forthcoming Autumn Budget, the UK property market is already showing impressive stability and resilience – raising the question of whether it even needs a policy boost at…
Read More →
Estate Agent Talk

What You Need To Consider Before Diving Into Property Investments

Are you interested in exploring property investments? This is a smart choice because it means that you can explore ways to diversify and grow your finances, even over a limited period. That said, there are lots of factors that you need to consider here to make sure that you are going to be able to…
Read More →
Breaking News

Forget kerb appeal: LRG report reveals what really triggers a homebuyer’s offer

One of the UK’s largest property services groups has published its debut sales report, uncovering what genuinely persuades buyers to make an offer – and the findings challenge the traditional focus on kerb appeal. While sellers often guess which improvements will pay off, the data shows where money is well spent and where it’s wasted.…
Read More →