40 per cent of homes bought under the Right to Buy scheme are now rented privately

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18th August 2015 10:35 - Housing

According to the findings of a recent survey, conducted by Inside Housing magazine, approximately 40 per cent of all council flats sold under 40 per cent of homes bought under the Right to Buy scheme are now rented privately the Right to Buy scheme in England are now being rented out privately.

The survey asked 91 councils to release the information under the Freedom of Information Act and discovered that 37.6 per cent of ex-council flats had leaseholders that lived at another address, which indicates that they were being rented privately.

The survey findings were released as the government gears up to offer Right to Buy discounts to housing association tenants.

Elsewhere, separate figures revealed that a government fund, targeting 10,000 Build to Rent homes, will be getting ‘underway’ by the end of 2015 and is on track to deliver just 4,000 homes.

A spokesperson for DCLG told Construction News: “To date, 15 schemes worth £456m are under contract, delivering over 4,000 new homes for market rent.”

Of the councils in the Inside Housing survey 127,763 leasehold properties had been sold, with 47,994 leaseholders living at another address, which suggests that they may have been sublet.

The figures showed that more than 50 per cent flats, which used to be council flats, in 6 local authority areas are now being privately let. Milton Keynes was the local authority area with the highest rate of sub-letted ex-council flats (70 per cent).

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