British taxpayers have footed a bill exceeding £900 million to local authorities under the Right to Buy scheme, as councils spend heavily to reacquire former social housing stock.
Sheffield and Edinburgh Lead Repurchases
The significant sum has been paid out since 2015, with some properties being bought back for up to 88 times their original sale price. Analysis reveals that Sheffield City Council and The City of Edinburgh Council have been the most active in the market.
Sheffield has reacquired 628 properties in this period, while Edinburgh has bought back 565 homes. The inflated costs highlight the financial pressure on councils trying to replenish dwindling social housing supplies.
Mixed Reactions from Housing Experts
The policy has drawn criticism and cautious praise from figures across the housing sector. Councillor Tom Hunt, who chairs the Local Government Association's inclusive growth committee, acknowledged the scheme's impact.
"While Right to Buy has delivered homeownership for many, it has had a significant impact on council housing stock," he stated. "The recent reforms to Right to Buy from the Government are positive."
In contrast, Ben Hopkinson, head of housing and infrastructure at the Centre for Policy Studies, argued against the practice. "Local councils shouldn't be spending taxpayers' money buying houses to bring into social ownership," he said. "Instead they should be allowing more homes to be built in their areas."
Government Response and Future Funding
A spokesperson for the Ministry of Housing, Communities and Local Government defended the government's record, pointing to a historic investment pledge.
"There are simply not enough social homes and this has exacerbated the housing crisis we inherited," the spokesperson said. "That’s why we’ve committed £39billion to deliver the biggest boost to social and affordable housing in a generation."
The spokesperson added that reforms to Right to Buy are underway to better protect remaining social housing and give councils more flexibility to use receipts from sales to build and buy new homes.
