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Will Right-to-buy hit affordable homes?


Rural housing campaigners are warning that the government's plan to extend right to buy legislation could decimate the provision of affordable housing.

With the government now allowing a number of housing association tenants in England purchase their homes at a discount rate. Rural housing groups fear that this could cause a further restriction on the already scarce availability of affordable homes.

The problem with making these homes available at a lower than value price is that it will only be a matter of time before the tenants that have bought their homes at this hugely reduced rate will place the homes on the market to make a fast profit and move to a more desirable area.

This happened when council homes were sold off it the 80's? Many people sold on at a massive profit.

There are many young adults still living with their parents as they simply cannot afford to get onto the property ladder. With the new Right-to-buy coming into play it will make it even harder for them to get onto the ladder, the more the government bring offers of Right-to-buy into the housing market the less likely our children will be able to move out.

This also does not give future homeowners the incentive to work hard to get onto the market, why should you if you live in a housing association home or a council house and can then purchse it at a reduced rate and then make a quick profit on it.

Sources: BBC, Telegraph
Image Credit: Telegraph