Council house sales mean more choice for buyers
Recent statistics show that sales of council homes under the right-to-buy scheme are now higher than they were before the recession, having doubled over the last two years.
Figures from the Department for Communities and Local Government reveal that 12,304 council tenants bought their homes between 2014 and 2015, representing a big increase from only 5,944 between 2012 and 2013.
The right-to-buy scheme means that tenants wishing to own their own homes can purchase the council properties that they live in at discounted rates, instead of buying a property sold by private individuals.
Many experts are concerned that councils are not replacing the social housing stock sold – while for property vendors, the impact on the market may also be worrying, especially for those needing a quick house sale. It means council tenants are not seeking properties on the open market and thus the demand is lower, leaving more choice for UK property buyers not living in council homes.
“We are going further and will do everything we can to help families buy a place of their own,” said Communities Secretary Greg Clark, quoted by the BBC, who added that the sales came alongside a 25% increase in house building in the past year.
If you’re concerned that your property will struggle to compete with others on the market, contact National Homebuyers for advice, as we buy any house for cash. Call 08000 443 911 or request a call back to find out more.
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If you have a property or house you are trying to sell fast, don’t delay any longer, contact National Homebuyers to arrange your valuation today on 08000 443 911.