Buy, buy, buyPosted: April 9, 2013
The first part of my analysis of Margaret Thatcher’s housing legacy looks at the right to buy and the property-owning democracy.
The death of the former prime minister got me thinking in what I hope is a dispassionate way about what her time in office meant to housing.
What seems to be undeniable is that the right to buy represented a sea change. Many people would nominate British Gas or British Airways or BT as her greatest privatisation but council housing was bigger than any of them. Some 1.5 million homes were sold between 1979 and 1990 (500,000 of those between 1979 and 1983). Capital receipts from the right to buy totalled £17.6 billion between 1979 and 1989 compared to £23.5 billion from all the other privatisations put together.
It is the one housing policy that is being mentioned in all of the obituaries and hagiographies in the national media but the truth about Thatcher and the right to buy is more complex that you might think.
Read the rest of this post on Inside Edge, my blog for Inside Housing