Up to £10 million a year could be spent by Hackney Council on purchasing former right-to-buy properties to increase the supply of affordable housing.
As of January 2020, the council reported that 13,000 people were on the housing waiting list, while 500 apply to join the list each month.
A motion was passed at a Cabinet meeting on Monday agreeing that the council could spend up to £10 million on former right-to-buy homes to help meet the need for affordable housing in the borough. This includes homes owned by housing associations which were council houses before the right-to-buy programme was introduced.
The “right to buy” policy was introduced by Margaret Thatcher as part of the Housing Act 1980. It allows council tenants and some housing associations to buy council properties at a discount. Some criticise the policy for compounding a housing shortage, particularly for low-income families.
Monday’s Cabinet decision was made to prevent right-to-buy properties being sold on the open market, which would result in fewer additional homes for social rent in the borough.
The Cabinet also agreed that taking no action would increase the amount spent on more expensive temporary accommodation by the Housing Needs Service. As such, buying right-to-buy properties would lower the need for temporary accommodation.
Councillor Rebecca Rennison described the move as an “important step forward” towards increasing the amount of affordable housing in the borough.
Morning Lane
This comes as the Hackney Post reported on a petition opposing a council development on Morning Lane reached over 400 signatures. The development was leased to Hackney Walk for 999 years who promised to bring much needed housing to the borough, but have since said that only 20% of the seven story block will be affordable.
