120 councils sign revamped Right to Buy

Aaron Morby 11 years ago
Share

Up to 120 English councils have signed the revamped Right to Buy scheme allowing them to invest council house sales proceeds into building new homes.

Housing Minister Grant Shapps confirmed today that 120 of the 167 councils that retain housing stock have signed up to the one-for-one deal.

The revamped Right to Buy is aimed at 2.5m council tenants and offers discounts of up to £75,000 to encourage them to become home owners.

This triples the discount in many parts of the country, and quadruples it in London.

Councils that have signed up will now be free decide on the type and size of home they build or hook up with housing associations to deliver new homes.

The Government hopes the scheme will stimulate council house building across the country.

The remaining 47 councils must pass receipts into a central pot, where council can bid for funds to build affordable homes.

Those who sign up by September will be able to keep receipts from July sales onward.

He said: “The reinvigorated Right to Buy has given hope back to thousands of aspiring council tenants who want to own their home – and for the first time, every extra home sold will be replaced on a one for one basis.

“So I’m pleased that 120 councils have seized this prime opportunity to refresh their housing stock by signing up to keep the cash from sales in their area.

“Not only will they be able to hand the keys to home ownership to their existing tenants, they will also be able to help families who for too long have been left languishing on their waiting lists.”

Councils gearing up to build homes from receipts

Adur Gravesham Redditch
Arun Great Yarmouth Rotherham
Ashfield Greenwich Runnymede
Babergh Guildford Salford
Barking and Dagenham Hammersmith and Fulham Sheffield
Barrow Harrogate Shepway
Basildon Havering Shropshire
Bassetlaw High Peak Slough
Birmingham Hounslow Solihull
Bolsover Ipswich South Cambridgeshire
Bournemouth Kensington and Chelsea South Derbyshire
Brentwood Kingston-upon-Hull South Holland
Brighton and Hove Leeds South Kesteven
Bristol Leicester Southampton
Broxtowe Lewes Southend
Bury Lewisham Southwark
Cambridge London St Albans
Camden Luton Stevenage
Cannock Chase Manchester Stroud
Canterbury Melton Sutton
Castle Point Mid Devon Swindon
Cheltenham Mid Suffolk Tandridge
Corby Milton Keynes Taunton Deane
Cornwall New Forest Tendring
Crawley Newcastle-upon-Tyne Uttlesford
Croydon Newham Waltham Forest
Dacorum North East Derbyshire Wandsworth
Derby North Kesteven Warwick
Doncaster North Tyneside Waveney
Dover North Warwickshire Waverley
Dudley North West Leicestershire Wealden
Durham County Northampton West Lancashire
Ealing Northumberland Westminster
East Devon Norwich Wigan
East Riding Nottingham Wiltshire
Eastbourne Oadby and Wigston Winchester
Enfield Oxford Woking
Epping Forest Poole Wokingham
Exeter Portsmouth Wolverhampton
Fareham Redbridge York

Latest news

RG Group wins £82m Leeds build to rent job

Work to start on developer Hub's 488-flat Latitude Blue scheme
14 hours ago

Speedy kit count finds £20m of missing equipment

Hire giant launches review after shortfall of small equipment
19 hours ago

Administrators appointed at concrete flooring specialist

Malin Industrial Concrete Floors has worked with a host of major contractors
2 days ago

Barratt sees early signs of a New Year trading uplift

Britain's biggest house builder reports strong first half but warns it is still too early to call depth of 2023 downturn
19 hours ago

Balfour launches new guide for inclusive behaviour

Right to Respect inclusivity initiative shows "where the boundaries are"
1 day ago

Concrete specialist Byrne Bros names new boss

Forty-year-old project director Philip Beausang promoted
19 hours ago

World’s first net zero cement production trial starts

Process combines scrap steel recycling in a the furnace with cement production
19 hours ago

VINCI to build new £100m Blackpool office scheme

Contractor to build new seven-storey regional hub for civil servants
2 days ago

Shapps to lead new Net Zero Government department

Business Energy and Industrial Strategy to split into three new Government departments
2 days ago

M&E firms readied for £545m Pagabo deal

New framework to meet demand for smarter buildings, particularly in healthcare and education
2 days ago

Mivan bags £100m haul of hotel and resi fit-out jobs

London hotel and prime residential orders put firm on track for £75m revenue this year
2 days ago

Graham hospital site hut complex destroyed by blaze

Site offices ravaged by fire which took eight hours to get under control
3 days ago

Mace wins £150m over-station job at Liverpool Street

Latest win from Aviva Investors and Allianz Real Estate following earlier Moorgate contract
3 days ago

Turner & Townsend and alinea join forces

110 alinea staff join T&T cost management team
2 days ago

Developer confidence high in big regional cities

Crane survey reveals Birmingham, Leeds and Manchester can count on resilient development pipelines
2 days ago

Caddick wins £21m Oldham off gas housing scheme

West Vale housing job forms part of £160m plan for 1,100 homes in Oldham
2 days ago

Buyers see brighter days ahead despite resi slump

"Construction can see a path through for better outcomes in 2023"
3 days ago

Australian firm to buy £300m gigaplant backer Britishvolt

New owner vows to complete giant factory in Northumberland
3 days ago

Project delays curb Ardmore growth ambitions

Refurb and housing specialist sees profit fall after challenging year of delays and supply chain failures
3 days ago

Scaffolders and sparks strike at antibiotic plant

Engineering construction workers down tools in bonus pay row
3 days ago

McAlpine bags £1bn Sellafield concrete structures deal

Contractor signs 17-year concrete structures and groundworks framework
3 days ago

Moving in to new markets paying off for McLaren

Contractor carving out new niche as leading player in heavy refurbs
6 days ago

Heavy materials sales fall amid slowdown in starts

Light side product sales grow helped by pace of activity for refurbs and energy-efficient retrofits
3 days ago

Plan to add retentions record to payment reporting law

Government consults on tougher reporting to include disputed invoices and retention policies
6 days ago

Morgan Sindall wins £88m Beckton DLR depot upgrade

Delayed work to start on Docklands Light Railway train maintenance depot in East London
6 days ago

Hare and Severfield win £250m Sellafield deal

Country's two biggest steelwork contractors secure 17-year framework
6 days ago

Max Steward returns to head up ISG’s Agility fit-out arm

Former ISG project director returns after three years to take up MD role
6 days ago

McLaren wins massive Portland House refurb

Construction to start this year on £380m revamp of 28-storey building in central London
7 days ago

Green light for £275m HS2 Midlands nerve centre

Trio of contractors battling it out to win huge new depot near Birmingham
6 days ago

Winners named for Government £10bn offsite framework

29 firms secure places on mega framework for schools, healthcare, defence and justice jobs
7 days ago

Contractor services