Kent Councils Sell 1,300 Council Homes Making £120 million
Seven local authorities in Kent have sold more than 1,300 council homes under right to buy (RTB) and made in excess of a £120 million, according to the latest figures released by the Ministry of Housing, Communities & Local Government.
Those who buy their home can receive a discount on the market value their council home if they qualify for Right to Buy.
The maximum discount allowable for council homes in Kent is £82,800 The discount increases each year in April in line with the consumer price index (CPI).
In 2012, the coalition government announced a policy to reinvigorate the Right to Buy. As well as significantly increasing the discounts available to tenants, the government promised that all homes lost would be replaced on a one-for-one basis, nationally.
This has not been done in most of the districts who have sold homes. It’s clear councils are struggling to keep pace with the stock that is being lost under RTB, as is clear from the data produced by the Ministry of Housing, Communities & Local Government.
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