This report addresses the work related to the Right to Buy in the HRA, carried out during the period from August to December 2022 based on the construction of a national model covering household income distribution, affordability, sales, receipts and discounts and taking into account the views and feedback from a series of participant local authorities.
Savills Affordable Housing Consultancy was jointly appointed by the Local Government Association (LGA), and its partners the Association of Retained Council Housing (ARCH) and the National Federation of ALMOs (NFA), to undertake research into various aspects of the policy, financial and technical operation of the Housing Revenue Account (HRA).
There are three areas of research, each addressing a key area for review and exploration:
- HRA Expenditure: incorporating a review of expenditure pressures affecting services provided to council housing within the HRA including: landlord services and housing management, building safety, net zero carbon and other pressures.
- HRA income: incorporating a review of income pressures, possible alternative approaches to rent policy, future rent increase policy and all other areas of income.
- Towards a more sustainable Right to Buy: not challenging the RTB policy itself but researching and exploring issues around sales volumes, the operation of discount levels, the recycling of RTB receipts – aimed to come up with some thoughts around future policy ideas to make the policy more sustainable for local authorities.
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Savills
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