Increased home sales and heightened housing optimism spurred by changes to Right to Buy policies
In a significant shift for local government, the Right to Buy scheme was upgraded by the government in 2023, with adjustments such as lowering discount levels, axing the acquisitions cap, and offering a longer cost floor protection period. This move was met with mixed reactions, according to a recent survey by the Local Government Association (LGA).
Cllr Tom Hunt, chair of the LGA's inclusive growth committee, supports these reforms as a positive step for councils to maintain and grow their housing stock. He emphasises the need for local government to be fully empowered to deliver the homes required.
The survey reveals that just under a quarter of respondents said new projects have become viable since the reforms became available, while 48% reported increased optimism about council housebuilding. However, 52% of councils noted budget constraints, especially within housing revenue accounts, continue to block new schemes.
New research from the LGA shows there has been a surge in Right to Buy applications in 2024/25, with an average of 527 applications per council. Interestingly, the search results do not provide information on which government agency in England submitted the most applications for the Right to Buy in 2024/25.
In a separate development, a developer has won an appeal to build 115 new homes in Yaxley, while in related news, a Scottish council is seeking private homes for social housing.
Two thirds of Right to Buy applications were submitted in the three weeks after the autumn budget was announced in 2023. Cllr Hunt calls on the government to remove restrictions on Right to Buy receipts and allow councils to set discounts locally, a move that could potentially alleviate some of the budget constraints faced by councils.
These developments highlight the ongoing efforts to address housing needs and the role of both the government and local councils in shaping the future of housing in England and Scotland.
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