Latest Right to Buy figures released

Newly released figures have shown that more than 312,000 households have now benefited from government-backed home ownership schemes.

Included in this figure is over 56,000 households who have purchased a home through the government’s revitalised Right to Buy scheme since 2012. This has been boosted by new figures showing over 3,350 households bought under the Right to Buy scheme in the three months to June, a 21 per cent increase from the same time last year.

The Department for Communities and Local Government (DCLG) reveals that councils received £283 million from sales of homes, which will be re-invested into new homes. This is a 27 per cent increase for the same quarter last year.

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

Since July 2014 the maximum amount of cash discount available has been £77,900 in England and £103,900 in London.

Gavin Barwell, Housing and Planning Minister, said: “From London to Leeds, Right to Buy plays an important part in building a country that works for everyone, helping thousands of people become homeowners for the first time.

“And we’re determined to replace the additional homes sold on a one-for-one basis, nationally - providing new affordable homes for rent for those who need them.”