Right to Buy Conveyancing - 2013 to 2014, Quarter 1

Key points from the latest statistical evidencing an increase in right-to-buy conveyancing are:

• in 2013 to 2014 quarter 1, local authorities sold an estimated 2,149 dwellings under the Right to Buy scheme; this is nearly 5 times the 443 sold in the same quarter of the previous year 
• there were approximately 300 fewer sales in 2013 to 2014 quarter 1 than in 2012 to 2013 quarter 4; this was the first quarter on quarter reduction in sales after 3 quarters of increases 
• local authorities in London accounted for 18% of sales in 2013 to 2014 quarter 1, this compares to a maximum of 21% in the previous 7 years 
• in 2013 to 2014 quarter 1, local authorities received approximately £129 million from Right to Buy sales, more than 5 times higher than the £24 million in the same quarter of 2012 to 2013 
• the average receipt per dwelling in 2013 to 2014 quarter 1 was £60,000, this compares to £54,000 in the same quarter of the previous year  
• there were 65 dwellings started on site or acquired in 2013 to 2014 quarter 1, this compares to 14 in the same quarter of the previous year