LAs have sold more than they have built

Councils in England sold almost six times more homes than they built in first nine months of this year, official data show.

The new figures from the Office for National Statistics reveal 9,500 local authority homes were sold under the Right to Buy from January to September. Just 1,670 new council homes were completed in the same period.

From July to September, councils sold an estimated 2,856 local authority homes, a fall of 15% on the previous quarter and down 3% on the same quarter in 2015.

The average price paid per dwelling rose from £84,000 in July to September 2015, to £86,000 in the same quarter this year. This resulted in councils’ Right to Buy receipts totalling £244.4m, a 6% year-on-year increase.