Understanding Right to Buy: A Brief History

Right to Buy was introduced in 1980 under Prime Minister Margaret Thatcher, allowing council housing tenants to purchase their homes at a discounted rate. It has since been widely regarded as a major contributor to the housing shortage in the rented sector.

Extending Right to Buy: The 2022 Announcement

On 9 June 2022, the UK Prime Minister announced plans to extend Right to Buy to housing association tenants. This expansion allows social housing tenants to buy their homes at discounts of up to 70% of market value.

Concerns Over the Social Housing Deficit

Reports indicate that over a million people are on waiting lists for social housing, many living in temporary accommodation or expensive, poorly maintained rentals. Since the introduction of Right to Buy, tens of thousands of council homes have been sold, worsening the social housing crisis.

The Challenge of Replacing Sold-Off Homes

Although the government has pledged to replace any social homes lost under the scheme, doing so will be costly. Housing associations must be compensated for the properties they lose, and funding sources remain unclear. Moreover, councils often build homes for sale at market price rather than for social housing.

Will Expanding Right to Buy Boost Homeownership?

Criticism from Housing Experts

Many housing experts argue that extending Right to Buy is more of a political move than a practical solution. A significant number of homes sold under the scheme have ended up in the hands of private tenants-and-landlords'>landlords rather than long-term homeowners. Experts suggest that instead of expanding Right to Buy, the focus should be on building more secure social housing.

Criticism from Housing Experts

Many housing experts argue that extending Right to Buy is more of a political move than a practical solution. A significant number of homes sold under the scheme have ended up in the hands of private tenants-and-landlords'>landlords rather than long-term homeowners. Experts suggest that instead of expanding Right to Buy, the focus should be on building more secure social housing.