Social housing sales up for councils and associations

Latest stats show 23,186 sales of social housing homes over 2016-17 – 13,652 by local authorities and 9,534 by housing associations.

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Over 23,000 social housing units were sold in 2016-17, latest government figures show.

Released by the DCLG the stats show 23,186 sales of social housing homes overall – 13,652 by local authorities and 9,534 by housing associations.

The sales amount to 0.6% of the total stock of 4 million social houses.

Between 2015-16 and 2016-17, local authority sales increased by 9% and association sales were up 1%.

The association increase was due primarily to increased preserved Right to Buy sales.

Local authority Right to Buy sales amounted to 13,416, an increase of 10% on the previous year with 4,694 Right to Buy sales by associations  up 18% on the previous year.

Total Right to Buy sales were 18,110.

The year saw local authority Right to Buy sales having an average discount of 43% of the selling price, 16 percentage points higher than in 2011-12.

Association Right to Buy sales had an average discount of 49% of the selling price, 18 percentage points higher than in 2011-12.

The numbers of social housing sales during the 1980’s when Right to Buy was first introduced, averaged approximately 97,000 annually.

Total sales then decreased in the 1990s, averaging approximately 47,000 annually and there was a further downward trend in social housing sales in the mid-2000s, when the number of sales decreased greatly between 2006-07 and 2009-10, possibly due to the financial crisis.

Since 2012-13 there has been an increase in total social housing sales, reflecting the increased discounts introduced in 2012-13 and the recovery of the housing market.

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