RTB sales 85% have been family homes, just the type that the current waiting list suggests is in great need and short supply

 

Part of Report by Northampton Defend Council Housing: Right to Buy and the council housing stock in Northampton

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[i]Most of the properties sold have been family homes (i.e. two or more bedrooms)

Type sold by size
one bedroom 36
two bedroom 98
three bedroom 105
four bedroom 6
five bedroom 3

The above shows that 85% have been family homes, just the type that the current waiting list suggests is in great need and short supply

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How is One for One replacement performing?

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Under existing policy, the government promised that each home sold after 2012 would be replaced.

[ii]Councils which STILL had housing stock bought out their Housing Revenue Account debt in 2012 and were able to keep a much greater percentage of the ‘Right to Buy’ receipts arising from the sales of dwellings

Over the period we a looking at the Treasury share (paid to the Treasury) as been 24% of the total receipts.

Total receipts have been £ 11.75 million with £2.84 million of that being paid to the Treasury

To get to the chase what has been replaced?

Two acquisitions have been notified to the Government (2014-15 Q3) and no starts on site are in progress

IN the pipeline?

Many will recall the numerous news reports off 100 council homes to be built at Kings Heath, which we have no start date for, and no estimated date off when tenants would move in.

BUT even if that was now, and tenants had moved in, it would still ONLY be a replacement rate of 41%

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In 2014/15 Northampton sold 88 so we are like many chasing our tails

 

 

[i] Period looked at in detail April 2012 – June 2015 the total number sold was 248

 

 

 

[ii] The implementation of self-financing 2012

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