Birmingham, Sandwell and Wolverhampton are in the top ten places in the UK taking up Right to Buy. Eleven thousand families have already registered an interest in buying their home since the extension of Margaret Thatcher’s right-to-buy scheme.
Cameron’s government has kept their electoral promise of giving citizens in housing association properties the same rights as council tenants to buy their property. Tories are determined to help people buy their own home, “regardless of whether they rent privately, from a council or from a housing association”, according to Communities Secretary Greg Clark.
That’s why they have extended Margaret Thatcher’s Right to Buy scheme to 1.3 million housing association tenants. This measure is aimed to help people see the purchase of a home as an achievable aspiration and figures show that this change is popular among those it affects. The Department for Communities and Local Government claimed that 11,000 British tenants (only 2,000 of them in London) have signed up to register their interest.
Additionally, for every property sold under the Right to Buy scheme, another affordable home will be added to the market, further increasing the stock of houses nationwide.
Since 2010, almost 270,000 people have bought a home thanks to government-backed schemes, including Right to Buy and Help to Buy (Over 46,000 households due to the latter since 2012). These schemes have also been beneficial for councils, as they have received £230 million from sales of homes which will be spent on building new homes.
West Midlands is one of the counties with more tenants interested in the Right to Buy scheme. The top ten places in UK includes:
- Sandwell (West Midlands)
- Southwark and Greenwich (London)
- Barking and Dagenham (London)
The government invites anyone interested in their housing plans to visit ownyourhome.gov.uk for more information.