Magazine article Public Finance

Numbers Game

Magazine article Public Finance

Numbers Game

Article excerpt

Right to Buy was back in the news following the Conservative manifesto pledge to extend the privilege to housing association tenants.

Introduced at the start of the 1980s, Right to Buy was a hugely successful policy with tens of thousands of local authority and registered provider properties being sold each year, peaking at almost 136,000 in 1988/89.

It's a policy that remained successful into the New Labour years - there were more than 84,000 Right-to-Buy sales in 2003/04. Numbers tailed off sharply to the low thousands during the financial crisis but have begun to recover.

Set against Right-to-Buy sales, local authority housebuilding is far off the pace. Councils in England built just 190 houses in 2003/04 but have improved on this, completing 910 in 2013/14. Meanwhile, the house price index continued to show strong growth, up 7.2% over the year to February, although this is well below the high of 12.1% recorded in September.

On the wider economic indicators, there was good news for Chancellor George Osborne with a continued fall in unemployment. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.