Right to Buy was first established as a key Conservative housing policy by Margaret Thatcher
Four in 10 former Nottingham council homes which were bought under the ‘Right to Buy’ policy are now in the hands of private landlords – prompting the council to welcome planned changes to the scheme. , meaning since October 1980 council house tenants have been able to buy their homes at a discount.
Over the last five years the council has managed to increase its housing stock by around 800 properties through re-lets, new builds and purchases, while registered providers have increased stock by a further 300. Despite this, there are still more than 10,000 people on the city housing waiting list and the council says there is “insufficient supply to meet the demand”.
Earlier this year Nottingham City Council was one of 20 councils to have written to the new Labour Government about its housebuilding targets, warning that without action they “face a £2.2 billion budget black hole in housing budgets by 2028”. Councillor Jay Hayes, executive member for housing, said one of the primary concerns had been with Right to Buy.
Deputy Prime Minister and Secretary of State for Housing, Communities and Local Government, Angela Rayner, is soon expected to announce changes to Right to Buy. These changes could include reducing the maximum discount to around 25 per cent, increasing the minimum qualifying period and stopping new-build council homes being purchased.
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