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SarahBell

Buying Back The Right-To-Buy Houses

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I was under the impression that if a RTB took place and that house ended up on the market for sale within a given time, say 5 or 10 years, that the council had first dibs on it. It is in the agreement to RTB in NI. Never heard of it being used though.

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Buying back a house for over £100k that was sold for £13k in 1982/3 ( the price and date my parents bought their council house) is not a great use of taxpayers' money. Even if you account for inflation on the £13k over 33 years.

As someone who is on a housing register I applaud any measures to increase housing supply. However, if councils have to buy back these homes at a premium price, it makes no sense whatsoever to sell them 3+ years later to tenants at a huge discount.

Didn't a few councils start buying back some ex-LA 1 bedroomed flats in 2012-13 on account of the 'bedroom tax'?

I may be a future beneficiary of a house sold under RTB but I'm against it in principle. It has assisted in HPI and sky high rents in the private sector. I would either be an owner occupier today or p***ing away a lot less than half my net income in rent.

That's good news. :)

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