Right to Buy creates ‘leaking bucket’ for ALMOs
0Councils’ Arms Length Management Organisations (ALMOs) suffered a net loss of 800 properties over the past 12 months, according to a new report.
An annual survey conducted by the National Federation of ALMOs (NFA) found that the organisations added 2,000 new homes to their stock in 2018.
However, this was only enough to replace 69% of sales through Right to Buy, it said.
NFA managing director Eamon McGoldrick said: “Whilst we welcome the recent changes to local authority finance which will support the building of a new generation of council housing, unless the government implements the flexibilities to RtB that we have been calling for, it is like a leaking bucket; the sector will continue to lose more council homes than it can replace.”
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