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• 183: The Impact of the 1999 changes to the Right to Buy Discount

Housing

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Summary

The Housing Act 1980 gave social housing tenants with secure tenancies the 'Right to Buy' their home from their landlord at a discount to the market value. The Right to Buy was later consolidated in the Housing Act 1985 and has been amended since. The amount of discount was dependent on the amount of time spent as a public sector tenant and was subject to a maximum limit. In February 1999 the DETR replaced the national £50,000 discount limit with regional discount ceilings varying from £22,000 in the North East of England to £38,000 in London and the South East. Assured tenants of Registered Social Landlords, such as housing associations, do not have the Right to Buy. However, local authority secure tenants whose homes are transferred to a registered social landlord usually have what is known as the Preserved Right to Buy, which is exactly the same as the Right to Buy except for some small technical details.

This study had three principal objectives. First, it sought to assess the effects of the February 1999 changes to the Right to Buy discount regime. Secondly, it sought to provide a better understanding of the factors influencing people's ability and willingness to pay for their homes. Thirdly, it sought to examine the impact of possible changes to the discount rules on Right to Buy sales over the decade 2001/2-2011/12 using a simple forecasting model.

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• 183: The Impact of the 1999 changes to the Right to Buy Discount
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