SALES NEWS: Sale of social housing swells private stock
The Department for Communities and Local Governments says there has been a 60% increase in the number of social housing units sold off and so joining the private stock. The vast majority of these houses have been sold through Right to Buy with buyers benefiting from heavy discounts of around 47%.
Sales of council and housing association stock peaked in the 1980s at around 97,000 sales per annum but then declined rapidly in the 1990s. For several years there have been fewer than 10,000 sales annually but sales are now on the increase again with 26,376 houses sold in 2013-2014.