§ Mr. HeseltineTo ask the Secretary of State for the Environment, Transport and the Regions what the total cash value of council house sales has been since the date of the enactment of the Housing Act 1980. [92920]
§ Ms ArmstrongBetween April 1980 and December 1998, total capital receipts to local authorities in England arising from the sale of council homes for owner-occupation were estimated at £24.0 billion. The majority of the 1.560 million sales in this period were under the Right-to-Buy provisions of the Housing Act 1980, which came into effect in October 1980.
In the same period, it is estimated that local authorities had capital receipts of some £3 billion from over 310,000 other dwellings sales and transfers, including Large Scale Voluntary Transfers of housing stock, principally to Registered Social Landlords.