failing to build enough new homes for social rent
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Total right to buy discounts have climbed to £1 billion a year – leading to a net loss of some £300 million, according to recent analysis from the Chartered Institute of Housing (CIH).
Cutting the discounts available could lead to an extra 12,000 homes being built a year, CIH has calculated. But the organisation says right to buy should be suspended altogether to stem the loss of social rented homes.
The extent of the cost to the public sector is revealed in the UK Housing Review 2018 Autumn briefing paper, launched earlier this month at Sheffield Town Hall.
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