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Report says Right to Buy could have ‘destructive’ outcomes
It has been predicted by the three councils that to fund Right to Buy extensions they will have to sell as many as 3,500 council homes in the next five years.
During the Queens speech it was announced that provisions to extend the Right to Buy levels of discount to an estimated 1.3 million housing association tenants would be introduced under the next Parliament.
However, this would require councils to sell expensive vacant council houses to fund the Right to Buy extension discounts and support the building of more local homes.
Cllr James Murray, Islington Council’s executive member for housing, said: ‘With Londoners already facing a huge housing crisis, this report shows that forcing councils to sell homes in high-value areas is likely to have a destructive impact right across the capital.”
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