"Not nearly enough" - Mayor of Hackney responds to Right to Buy changes
Mayor of Hackney Philip Glanville's response to the announcement from the Department for Levelling Up, Housing & Communities that Councils will be allowed to keep 100% of their right to buy receipts for 2022-23 and 2023-24.
Given the huge loss of social housing through Right to Buy, finally having the freedom to put the income towards building and buying replacement Council homes is a big win for our campaign, but not nearly enough for those on the frontline of Hackney’s critical social housing shortage.
While we will now use every penny we receive through Right to Buy to fund our ambitions to build 1,000 new Council homes by 2026, the cost of building each new home remains far beyond the price of those we are forced to sell at a discount.
With construction costs rocketing, only when ministers provide meaningful funding to build the new generation of social housing that is so desperately needed will councils be able to reverse the decades of damage caused by the failure to enable us to replace Right to Buy homes lost in Hackney.
The Council is delivering plans to build 1,000 new Council homes for social rent by 2026. Find out more.