industry news 15 RIGHT TO BUY
36,000 new homeowners thanks to Right to Buy
N
ew figures show more than 36,000 new homeowners were created through Right to Buy since 2012. Housing
Minister Brandon Lewis said it was proof that the Right to Buy was fulfilling the aspirations of hard-working people, and reaffirmed the govern- ment’s commitment to extend the scheme to housing association tenants. The figures released on 25 June also show
that 3,337 new starts and acquisitions have been made since 2012. This means that the additional homes sold in the first year of the scheme are already being replaced on a one for one basis nationally. Housing Minister Brandon Lewis said: “We
want to help anyone who works hard and aspires to own their own home to turn their dream into a reality. “Right to Buy is central to that vision and has
already created more than 36,000 homeowners, helping generate over £2.8 billion for more affordable homes. And we are making good on our promise to replace council homes with those sold in the first year of the reinvigorated scheme
now being replaced. It really is the benchmark of how a ‘one nation government’ can help hard- working people realise their ambitions and that is why we want to extend it to housing associa- tion tenants, so that they too have the chance to own their own home.”
Helping aspiring homeowners
Helping aspiring homeowners and housebuilding are key parts of the government’s long-term economic plan. Since 2012 the Right to Buy has generated
nearly £860 million in sales receipts which is being re-invested in house building; levering a further £2 billion of investment over the next three years. This means that in total, over £2.8 billion will be raised to invest in affordable house building as a result of the as a result of Right to Buy. Council house building starts are now at a 23
year high and almost twice as many council homes have been built in the last four years than from 1997 to 2009.
OFFICE FOR NATIONAL STATISTICS
House price statistics for small areas 1995 - 2014
on 24 June 2015. The statistics are taken from Land Regustry data and look at median house prices in given areas. The main findings are: •In 2014, the local authority with the largest median house price was Kensington and Chelsea at £1,195,000.
T
•In 2014, the local authority with the smallest median house price was Blaenau Gwent at £75,000.
•The local authority that had the largest increase in median house price between 2013 and 2014 is South Bucks increasing by 23 per cent from £390,000 to £480,000.
•The local authority that had the largest decrease in median house price between 2013 and 2014 is Isles of Scilly decreasing by 15 per cent from £275,000 to £235,000.
Visit the
www.ons.gov.uk to find a copy of the full report.
he Office for National Statistics (ONS) released its house price statistics for small areas in England and Wales, 1995 - 2014
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