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Tuesday, 2 December 2014
Right to Buy depleting affordable homes
Government's Right to Buy scheme is eroding Britain's stock of
affordable housing - with only one home being built for every four sold off,
according to analysis of official figures by the Local Government Association
(LGA). Since the scheme was relaunched in 2012, over 20,000 properties have been
sold off to their tenants with discounts of up to 70% on market
value.However, over the same
period local councils have begun building less than 5,000 replacement homes. A
spokesman for the LGA said: "The current arrangements for Right to Buy are poor
value for the public purse and do not support councils to replace homes sold
under the scheme like-for-like."