Housing Associations: Right to Buy

Lord Cormack Excerpts

Tuesday 9th June 2015 Lords Chamber

[Baroness Williams of Trafford]

My Lords, the Government can go on their record on this, which is that under the coalition Government more council homes were built than in the previous 13 years. Also, if the new revitalised scheme does not yield that one-for-one replacement within a three-year period—the one-in-10 figure is actually quite misleading, because we are only at the end of the first three-year period of the first council home sold—the HCA will take on those properties and sell them.

[Lord Cormack (Con)]

My Lords, how are we going to increase the supply of affordable housing, which is desperately needed, by selling some of the most affordable houses at very great discounts?

[Baroness Williams of Trafford]

My Lords, when affordable houses are sold, the discount to date is then refunded back to the housing association by the Government. As for replacing affordable with affordable, that capital receipt allows a new similar home to be built.