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Affordable housing completed and funded with recycled Right to Buy receipts: 3+ bedroom - Acquisitions (8845) Metric type
- Help text
- This is the number acquisitions of 3 or more bedroom affordable homes that have been completed in the reporting year and which were funded with recycled Right to Buy receipts. This includes those units where the local authority has contracted the provision to Private Registered Providers or other developers.
As part of the increased caps on Right to Buy discounts from April 2012, the Government has an aim that the receipts from every additional home sold under the Right to Buy scheme are used to fund its replacement, on a one for one basis (nationally), with a new home for affordable rent. Local authorities that have signed up to an agreement with Government that they will limit the use of the net Right to Buy receipts to 30% of the cost of the replacement homes will be able to retain the receipts for replacement housing.
These are dwellings within the geographical authority area. This means that any dwellings provided in the area by other local authorities will be included, but those provided by the authority outside the area should not.
All affordable housing reported here should be in line with the National Planning Policy Framework (NPPF). A "completion" is defined as taking place when the property is built or purchased and transferred to the housing provider. This will generally take place when a Practical Completion certificate is issued or when the completion of the sale takes place. Homes should be included in a given financial year where Practical Completion (or completion of the sale) and transfer to the housing provider has taken place by 31 March. If the property is only let, or available for letting, in the following year it is still recorded in the year that it was completed and transferred to the registered provider.
This indicator is from the Local Authority Housing Statistics data returns (LAHS) Section I - Affordable Housing Supply
- Modified
- 22 Dec 2022
- Data last updated
- 29 Jun 2022
- Short label
- Affordable housing completed and funded with recycled Right to Buy receipts: 3+ bedroom - Acquisitions
- Status
- Live
- Output precision
- 0
- Polarity
- a high value is good
- Measure
- Count
- Dataset
- Dwellings in the area
- Source
- Department for Levelling Up, Housing & Communities
- is found in the following lists
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