Government says new Right to Buy replacements are on target for “one to one” replacements.
The government says nearly 50,000 homes have been bought with Right to Buy since the scheme was “reinvigorated” in 2012.
The government also say that the target for one to one replacement has been exceeded, with 5,000 more starts on properties than sales.
Housing Minister Brandon Lewis said: “We are determined that anyone who aspires to own their own home should have the opportunity to do so.
“These figures show people are still very keen to take up their Right to Buy and why we are now extending that opportunity to housing association tenants.
“Britain is building again and homes are being delivered following the sale of properties. Alongside this a thousand tenants are registering each week to join those who have already realised their dream to own their home.”
The policy has recently been extended to those living in Housing Association properties with a reported 25,000 housing association tenants already registering their interest in taking up this option, puing the rate of sign-ups at 1,000 each week.
The Housing Minister recently spoke to the Home Builders Federation Policy Forum, restating the government’s aim of delivering 1 million new homes by 2021, an aspiration already slipping as the previous target, as reported in October for that number of homes was 2020.
The Minister told the forum: “We used the strong economic foundation we established after 2010 to improve the housing market. My job and yours is to make sure that work continues.
“We all know much more needs to be done to create a housing market that meets peoples’ needs. That supports aspiration, increases mobility, boosts productivity and helps local economies grow.
“In the Spending Review we doubled investment in housing, and set out the largest house building programme for 40 years. We aim to build a million homes [by 2021] and double the number of first time buyers in this Parliament, continuing work started in 2010.
“Some have a questioned our emphasis on affordable home ownership. But we make no apology for this innovation. It’s what working people want. 86% of people say they would choose to buy their own property. And yet the aspiration and reality of home ownership has drifted apart.
“Why should we not help make aspiration more affordable? It’s simply old-fashioned political dogma to insist governments only intervene in the market to support renters, when most people would rather buy. To persist with this outdated mindset risks creating a generation of young people exiled from home ownership.
“We’re committed to building Starter Homes, and in the Budget we set out some of ways we will achieve this. Councils will shortly be invited to apply for a share of £1.2 billion Starter Homes Land Fund.
“To remediate brownfield land so it’s ready for construction, and bring more land into the system. We’ll also publish a new prospectus for the Help to Buy: Shared Ownership scheme for first time buyers, and you’ll soon be to bid for a share of £4 billion to get the work started.
“In the Budget we extended that same support to areas wanting to establish Garden Villages. For the first time ever local authorities have committed to an ambition to release public sector land for house building.
“Land with capacity for at least 160,000 new homes will be released – matching the central government target. At the same time the HCA will work with Network Rail and councils to bring forward land around stations for housing, commercial development and regeneration. And we expect the first sites to be brought forward shortly.
“In London we have approved the business case for a new Thameslink station at Brent Cross, paving the way for 7,500 new, and desperately needed, homes in the capital. We want to release more public land, but we also want to increase transparency across the whole the land market, so we’ll be making it easier to access information on land ownership.