Social housing sold off through right to buy amounts to 34% of all new builds completed by housing associations and local authorities over the last decade, new research has revealed.

The findings from JLL, a global firm of property consultants and valuer in UK affordable housing, show the huge impact the scheme is having on the affordable housing sector.

JLL’s research shows two out of the last ten years of housing completions were simply compensating for the homes lost through right to buy. The number of homes lost through the scheme would be valued at £31.7 billion – and when even accounting for replacements, the shortfall remains £18.2 billion.

Adjusting to 75% of market value to reflect the lower prices achieved by ex-local authority stock, these figures still stand at £23.8 billion and £13.7 billion, respectively.

In the last ten years, right to buy sales have meant the loss of 107,203 homes. Some have been replaced, with official data showing 45,562 replacement homes delivered. But this still leaves a shortfall of 61,641 homes.

Marcus Dixon, Head of UK Living and Residential Research at JLL, said: “Across the country, we continue to see more homes being removed from the social housing sector under the Right to Buy regime. Our research alone is a clear indication that the scheme is steadily eroding the housebuilding progress made, putting the country at a standstill with no solution in sight.”

“While the Right to Buy scheme set out more than 40 years ago with good intentions of getting more people on the property ladder, there is no clear roadmap enabling councils to achieve one-for-one replacements for homes that are lost.

“With the autumn budget looming, we hope the government considers our plea to abolish or at least pause the Right to Buy scheme. This will not only prevent further loss of social housing across the sector, but it will enable local authorities and housing associations to focus on building new homes, bringing the Government closer to achieving its housebuilding goals.”

The new research follows JLL’s previous report ‘Tackling social housing waiting lists’, which revealed it would cost £205 billion to build enough homes to clear England’s vast social housing waiting list. This estimate would be due to a shortfall of 570,000 homes between 2024 and 2028, when compared to the 300,000 homes a year target.