RIGHT TO BUY SALES OF COUNCIL HOUSES:
We asked how many council houses had been sold in each of the previous 5 years, and what monies had been received & what discounts had been given.
This was the raw data that was provided:
|| Total capital receipts
|| Total discount
|| £ 669,500.00
|| £ 64,000.00
|| £ 1,446,000.00
|| £ 112,000.00
|| £ 4,643,550.00
|| £ 2,517,450.00
|| £ 12,503,865.00
|| £ 9,996,685.00
|| £ 16,661,842.80
|| £ 12,178,907.20
|| £ 35,924,757.80
|| £ 24,869,042.20
So, as you can see, a total of 271 council properties were sold off in the last 5 years, with a total of £36m capital receipts and £25m worth of discounts given.
The right to buy scheme has been heavily promoted in recent years, and this is borne out by a ramping up of the numbers sold, from 4 in 2010/11 to 123 in 2014/15.
When you take a look at the average figures underlying the totals, the discounts given in 2010/11 averaged £16k per house, or 9% of the total value, rising to £99k per house or 44% of the total value in later years.
For all the damage that Thatcher’s legacy of the infamous Right to Buy has caused, on it goes, relentlessly. 40% of ex-council houses ending up in the hands of private landlords. Many of these now sprouting extra bedrooms via unusual conversions where once were well balanced, spacious, solid, sound family homes. A number of Sweets Way residents are now residing in such properties with rent in the region of £1,500 pcm. One (former 2 bed) maisonette has had the living room partitioned in two directly across the centre of the window creating two inadequately sized bedrooms and unbalancing the house such that it does not function for the family of four (with 2 teenage children) who now occupy it. In another, the kitchen had been divided to create a shower room, and the bathroom turned into a third bedroom. This landlord told us, “Oh, the fridge, yes, that’s down the hall [in the airing cupboard]”….as the new kitchen was unable to fit all the usual appliances you might expect in a kitchen – but think of all that extra income he’ll be earning from his extra bedroom. Never mind those who have to suffer the cramped & unsuitable living conditions. Another, a 2 bed maisonette, former council property, now owned by Notting Hill Housing Association is being rented out at £345/week….THREE HUNDRED AND FORTY FIVE POUNDS PER WEEK, and that’s supposed to be “affordable”.
Some clever little charts for your interest: Analysis of Right to Buy sales (be even more clever if I could manage to insert decent pictures of them!)
Average value, discount,and discounted sales price per council house sold in Barnet under the Right to Buy scheme in the last 5 years:
Notice how the discounts goes up and up and the capital receipts go down and down. It’s a bargain! – yeh, but who for….
Discounts as a % of the gross value of council houses sold under the Right to buy scheme in Barnet in the last 5 years:
Less than 10% discount offered in 2010-2012, ramping up to 44% discount in 2013-14
Capital receipts from the sales of Council Houses under the right to buy scheme in Barnet, and discounts given:
Sell, sell, sell
Number of council houses sold…..sell sell sell!
Now to ask them what they spent the £36m on, because it certainly isn’t 271 new replacement council houses!