A group of MPs is raising concerns about a claim that 40 per cent of homes sold through the Right To Buy iniative end up as buy to let properties on the private rental market.
The Commons’ Communities and Local Government Select Committee says it is inevitably the case that RTB properties which are privately let have rents that are more expensive than the same properties attracted when socially owned and let to council or housing association tenants.
“The committee believes the potential for selling social housing assets at a discount, only for them to become both more expensive and possibly lower quality housing in the private rented sector, is a significant concern. The committee recommends measures to restrict homes sold through the right to buy ending up in the private rented sector need to be explored” says the committee’s report.
Clive Betts MP, chair of the CLG committee, says there are “unresolved issues” with the government’s policy and these could have a detrimental effect on the provision of accessible and affordable housing, particularly affordable rented property.