Mortgages  

Right-to-Buy in a nutshell

Right-to-Buy in a nutshell

Right-to-Buy was introduced in 1980 giving council tenants the opportunity to buy their homes at a discount – for some this was as much as 50 per cent of the market value.

The policy became extremely popular, and in 1982/83 167,123 council homes were sold – the most in any single year to date.

Between 1980 and 1995, approximately 2m homes were sold under Right-to-Buy, but controversially councils were banned from using the revenue to replace the homes.

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Labour dropped its opposition to the policy in 1985, but when it returned to government it drastically reduced the discount.

This meant that by 2009/10 Right-to-Buy sales were as low as 2,375, but the Coalition Government then increased the discount in 2012, and numbers have since edged up.