Tenants are rushing to buy because the government has indicatedit plans to curtail the-right-buy policy. New estimates suggest the market value of housing stock sold this year could reach at least£4.2bn, compared with£2.8bn last year if prices and applications continue to grow at present rates. The discount to market value enjoyed by buyers could be worth a least£1.8bn - and giving buyers housing equity which could be used against cheap loans.
Councils across England are being deluged by RTB applications. Numbers are up by 200% in parts of London, by 39% in Manchester and by 76% in Leicester.