The Welsh Labour Government has introduced proposed legislation to abolish the Right to Buy and associated rights in the National Assembly for Wales.
The proposed Bill will provide for the Right to Buy, the Preserved Right to Buy and the Right to Acquire for tenants of local authorities and registered social landlords to be abolished after a period of at least one year.
In introducing the Bill, the Welsh Labour Government aims to protect the Welsh stock of social housing from further reduction, ensuring it is available to provide safe, secure and affordable housing for people who are unable to take advantage of the housing market to buy or rent a home.To encourage the development of new social housing, the Bill, if passed by the Assembly, will provide that the Right to Buy and Right to Acquire will end for new homes two months after Royal Assent. This will help encourage social landlords to build new homes in the knowledge that they will not be at risk of being sold after only a relatively short period.
The Bill complements other actions being taken by the Welsh Government to increase the supply of housing, including our ambitious Welsh Labour target of creating 20,000 affordable homes in this term of government including the Help to Buy and Rent to Own schemes to enable people on modest incomes to own their own homes.
Figures show that the size of the social housing stock in Wales has declined significantly since 1980 when the Right to Buy was introduced by the Tories. The number of sales is equivalent to 45% of the social housing stock in 1981, resulting in often vulnerable people in housing need having to wait longer to access a home they can afford.