Nearly 40 per cent of all homes sold under Right To Buy in England have gone on to become buy to let investment properties.
Research by social housing magazine Inside Housing, using data gathered through Freedom of Information requests, shows that responses by 91 councils suggest a combined 127,762 council maisonettes and flats have been sold since the Thather government introduced Right To Buy in 1980.
But some 48,000 leaseholders are registered as living away - suggesting they are not owner occupiers so, probably, let the units.
It is not clear home many of the Right To Buy homes were sold directly to tenants who became landlords to let them out, or sold initially to tenants who acted as owner occupiers and then sold the units on as investment properties at a later date.
In six local authority areas - Milton Keynes, Stevenage, Blackpool, Corby, South Kesteven and Kingston - over 50 per cent of Right To Buy properties are believed to be privately let.
The current government is expected to unveil legislation this autumn on extending Right To Buy, and its controversial discounts for existing occupiers, to around 1.3m housing association tenants.
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment