Right to Buy sales surge
Take up of discount home buying scheme at highest level since 2007
February 27, 2013
Almost 3,500 homes have been sold since the scheme was relaunched by the Government last April. Council tenants can now buy their home with a discount of up to £75,000. The sales since last April are more than a third higher than in the financial year 2011/2012.
There was a sudden surge in Right to Buy sales in the last quarter of 2012. Over 2,000 tenants took up the discount, more than double the number in the previous quarter. This suggests that more and more tenants may buy their own home as the scheme becomes better known.
Housing minister Mark Prisk said Right to Buy had “opened the door to home ownership for thousands of tenants across the country. I’m delighted to see so many taking up this opportunity,” he added. “But from the 200,000 visitors on our website, to the councils that report to me the surge they’ve seen in applications, I know there are many more that want to follow in their footsteps.”
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