A Labour council hopes its new housing company will be allowed to buy the authority’s own vacant ‘high-value’ stock, preventing loss of homes to fund the Right to Buy extension.
Oxford City Council announced that it was setting up a new housing company to tackle the high demand for housing in the city.
In addition to building new homes, the authority also wants the new company to buy high-value council stock which would otherwise be sold on the market in order to pay the Right to Buy levy. However, it is not clear if the government will permit this, and the Department for Communities and Local Government declined to comment.