‘Right to Buy-back’ housing scheme sees increase in 1,500 council homes

Thousands of homes in London have returned to council ownership following the launch of Sadiq Khan’s “Right to Buy-back” scheme last year, City Hall has revealed.

The scheme has provided 14 councils with £152 million of funding since it launched in July 2021, which has seen 1,577 private homes bought by councils to bolster their affordable housing stock.

Of that total, 908 homes have been or will be let at social rent levels – the cheapest affordable council rents.

The Mayor of London, Sadiq Khan, launched the scheme last summer to counter the trend of council homes “disappearing into the private sector”.

Since the introduction of Right to Buy in the 1980s – which gave council tenants the chance to buy their property at a discounted rate – more than 300,000 council homes in London have been sold on the private market.

Pictured top: Mayor of London Sadiq Khan (Picture: PA)