Since the start of the Right to Buy scheme in 1980, there were precisely 2,052,813 sales until 31 March 2026.
Rachel Springall, finance expert at Moneyfactscompare.co.uk, said: “The short supply of affordable housing makes the Right to Buy scheme highly attractive for aspiring homeowners, giving them a chance to buy the home they already live in at a discounted price.”
Rising mortgage rates disappoint prospective buyers
Fixed rate mortgages now average 5-6%, deterring some first-time buyers.
Springall said: “Those who have saved over recent years and are now finally ready to get a mortgage will be disappointed that mortgage rates have been climbing amid prolonged unrest in the Middle East.”
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However, for those still considering purchasing under the Right to Buy scheme, Springall said there was still time for tenants to start purchasing eligible homes.
She continued: “The proposed changes to the Right to Buy scheme could cause a rush for tenants to buy their home in the months ahead, so seeking advice would be wise.
“There are currently proposed reforms to overhaul the Right to Buy scheme under the Social Housing Bill, currently going through Parliament… A third reading of the bill is expected in September, so there is still time for tenants to start the process of buying their home if they are eligible under the Right to Buy rules.”
Supply shortage threatens viability
However, Springall warned that the Right to Buy scheme continues to put pressure on existing housing supply.
She said: “The amount of homes sold under the scheme does create a dilemma for the wider housing market, as social housing stock needs to be replaced.”
Savills estimated that England will build just 837,500 homes over the next five years, leaving housing delivery substantially below the government’s target of 300,000 completions annually.
Referring to Andy Burnham’s pledge to build more council homes, Springall suggested that supply will be challenged to keep up with the extent of demand.
“The scale and pace to achieve significant numbers of new dwellings has to be bold to cater to high demand,” she said, quoting Resolution Foundation’s research showing that 1.3 million households are on local authority waiting lists.
