Posted: Thu 14th Mar 2019

Updated: Thu 14th Mar

£30k average gain on Right to Buy homes in Wrexham

Wrexham.com for people living in or visiting the wrexham area
This article is old - Published: Thursday, Mar 14th, 2019

An average gain of £30,000 was made by people selling homes they bought under the Right to Buy scheme in Wrexham.

Right to Buy, which offers large discounts to council tenants who buy their home, has been one of the most divisive housing policies of the past 40 years.

The Housing Act came into force on 3 October 1980 including giving the Right to Buy (RtB) to more than five million eligible council tenants in the UK. Prime Minister Margaret Thatcher said it would pave the way for a “property-owning democracy”.

Since its inception, more than 2.6 million former council tenants in Great Britain have bought homes under the policy, according to research by The Chartered Institute of Housing. In Northern Ireland, some 119,000 Housing Executive and 3,000 Housing Association properties have been sold under equivalent schemes.



Supporters say it has given millions of people the chance to get on the housing ladder and secure their families’ financial future. Opponents blame the policy for distorting the housing market and for a huge reduction in the amount of social housing stock.

Since its inception, more than 140,000 homes have been sold under RtB in Wales, 1.9 million homes in England, more than half a million in Scotland, and 122,000 in Northern Ireland.

Across the UK, the devolved governments have adopted differing approaches in recent years. A final cut-off date for applications to buy under the policy across Wales expired on 26th of January this year.

Previously commenting on the scrapping of the Right to Buy scheme earlier this year, Lesley Griffiths AM said: “I am pleased this key Welsh Labour commitment is coming to fruition.

“Abolishing Right to Buy will help reduce pressure on social housing, enabling local authorities and housing associations to invest in new developments safe in the knowledge that their housing stock will not be sold off at discounted rates.”

“Constituents regularly contact my office with housing issues but I am hopeful this move will help ensure sustainable, affordable housing is available for people who need it most.”

The BBC’s Shared Data Unit has compiled a dataset of sales of ex-RtB homes across the UK from the year 2000 to April 2018. The analysis has revealed former council homes bought under RtB in Great Britain and sold on again have made a combined profit of £6.4bn in real terms since the year 2000.

The data states in Wrexham there was an average of 2,695 days (7.3 years) between purchase and sale of a RtB property, with an average profit of £30,086 based off data of 115 homes in the period covered.

In Wales…

  • There were some 3,355 sales between February 2002 and March 2018. Of those, there are 1,328 where we have RtB sale price and subsequent sale price to compare
  • The total profit made on those ex-RTB homes sales in Wales was £61m or £51m in real terms
  • The average amount of money a vendor made between purchase and sale was £19 per day
  • Just 32 (2.4%) out of 1,328 sellers made a loss on their home. Some 119 (9%) of vendors made a real terms loss
  • RtB homes were kept for an average of 2,948 days (8 years)
  • The longest time someone kept their ex-council home before selling was 12,261 days (33.6 years) in Merthyr Tydfil. It was bought in June 1982 and sold on again in August 2016 for £79,000
  • One person bought their ex-council home in Cardiff before selling it the next day in February 2013 for £87,000. The RtB purchase price is not available.
  • The most money a seller made per day was £1,371. Someone bought their ex-council house in Newport in July 2007 for £7,000 and sold it on in September 2007 for £86,500

The Wrexham data set is below, it is not possible to do comparisons on some data as not all properties had a starting purchase price or similar information.

Right to Buy - Wrexham Dataset

Price purchased under RtBDate of purchaseNext sale priceDate of saleDays owned before next salePrice difference (£)Real terms price difference (£)Profit per day (£)
£110,00024/06/0312600017/09/038516000£16,000£188
£105,000.0002/02/0414600029/07/0417841000£41,000£230
£74,00012/01/0612550025/01/0737851500£48,328£136
£48,00028/08/078000004/12/0846432000£30,086£69
£25,000.0008/08/016500016/12/0249540000£39,583£81
£72,50019/03/0712500004/08/0850452500£49,609£104
£42,000.0019/02/049400002/08/0553052000£50,814£98
£63,50022/11/0511695012/07/0759753450£48,612£90
£8,55028/02/084000013/11/0962431450£31,495£50
£59,00014/12/0511200019/12/0773553000£48,505£72
£23,80019/05/037800008/06/0575154200£52,799£72
22/01/029995007/04/04806
£37,00006/12/048750018/05/0789350500£46,556£57
£21,00018/05/047650001/11/0689755500£54,217£62
21/12/996200004/07/02926
£26,00020/10/047495010/05/0793248950£46,179£53
£20,58001/10/037600005/05/0694755420£53,512£59
£10,20007/10/027800006/07/05100367800£66,887£68
12/10/005875011/08/031033
£22,36007/11/038800002/10/06106065640£63,567£62
23/02/005995018/02/031091
£10,83005/02/037500021/02/06111264170£63,166£58
£54,00014/02/076950004/03/10111415500£11,067£14
£51,50007/11/065500007/12/0911263500-£553£3
01/02/994900019/03/021142
£25,20005/09/036800031/10/06115242800£40,464£37
£74,00014/07/0610000008/09/09115226000£20,177£23
£19,68029/08/038000026/10/06115460320£58,496£52
£8,92509/07/027995007/09/05115671025£70,226£61
£94,00014/06/1013400015/08/13115840000£28,830£35
29/01/026995007/06/051225
£11,520.0015/03/048600025/07/07122774480£73,252£61
£17,03011/07/005300002/12/03123935970£34,870£29
16/10/985995011/03/021242
£44,00009/02/075400005/07/10124210000£6,388£8
£7,35007/02/038000004/07/06124372650£71,969£58
£120,00018/09/0216500028/02/06125945000£30,084£36
£65,00013/01/118100002/07/14126616000£10,241£13
12/02/994895012/08/021277
£79,50007/02/0811000015/08/11128530500£22,967£24
£35,00024/05/046850011/12/07129633500£29,770£26
£45,50030/05/076000010/01/11132114500£8,203£11
£21,000.0004/03/048200026/10/07133161000£58,762£46
20/07/009250013/04/041363
£76,50006/08/1210725003/05/16136630750£24,351£23
£18,76004/06/038300016/03/07138164240£61,622£47
£9,45009/05/003500020/02/04138225550£24,640£18
£7,95008/01/026750009/11/05140159550£58,839£43
£31,000.0002/06/049950006/06/08146568500£63,828£47
03/10/0312000025/10/071483
£46,00015/03/057525021/04/09149829250£24,044£20
£55,00017/02/059450016/04/09151939500£33,276£26
£23,000.0009/12/038700005/03/08154864000£59,745£41
£15,985.0005/12/038000003/03/08155064015£61,058£41
24/12/997600013/04/041572
03/02/996300027/05/031574
£59,00015/06/077200012/10/11158013000£4,834£8
£44,00009/12/059000026/04/10159946000£38,761£29
17/04/008400015/09/041612
£20,00011/09/035000021/02/08162430000£26,300£18
£44,00013/11/065050001/06/1116616500-£1,737£4
07/04/983695030/10/021667
09/11/997300030/06/041695
£9,07526/07/0111800031/03/061709108925£107,627£64
£31,96008/06/0610000028/02/11172668040£62,057£39
£12,00005/02/038800006/11/07173576000£74,326£44
£13,000.0003/02/048000003/12/08176567000£65,041£38
13/01/005995015/11/041768
£11,25004/02/028950018/12/06177878250£76,852£44
£15,50029/05/036400018/04/08178648500£45,633£27
£25,00004/05/046000026/03/09178735000£31,385£20
£36,50031/07/068300018/07/11181346500£39,667£26
21/02/007200009/02/051815
17/11/972300025/11/021834
£64,00021/09/126200023/10/171858-2000-£9,840-£1
04/02/9922500022/03/041873
£50,00003/03/067499512/05/11189624995£15,635£13
£64,00016/01/097500014/04/14191411000-£1,679£6
08/10/979800007/01/031917
£59,00014/12/069000015/03/12191831000£17,705£16
£89,00024/07/0710100030/10/12192512000-£3,572£6
£39,00017/02/056800017/06/10194629000£22,583£15
20/05/9713400020/09/021949
£85,00009/08/0712400019/12/12195939000£24,128£20
£10,71509/12/035300018/05/09198742285£40,370£21
£57,50027/02/068700012/08/11199229500£18,736£15
18/09/989600005/03/041995
£56,00031/01/068350005/09/11204327500£17,017£13
15/05/972995024/12/022049
16/07/967995019/03/022072
30/09/9813200017/06/042087
£56,50006/12/067400021/09/12211617500£4,769£8
16/10/9624500014/08/022128
13/01/997200024/11/042142
£59,00017/01/068000017/01/12219121000£7,705£10
£36,50017/05/075000022/05/13219713500£5,810£6
£76,50019/02/0815500004/03/14220578500£63,832£36
£49,00019/01/066250013/02/12221613500£2,459£6
27/09/9614400019/11/022244
05/02/989300005/04/042251
£42,500.0005/08/047300004/10/10225130500£22,110£14
£59,00013/05/118995015/08/17228630950£21,596£14
£69,00023/03/069275005/07/12229623750£8,202£10
23/08/968000013/12/022303
15/04/9812600016/08/042315
£29,07005/09/037750012/01/10232148430£41,654£21
12/12/9710600026/04/042327
15/04/9617000022/11/022412
04/03/9714400013/10/032414
10/06/975200018/02/042444
11/07/955995005/04/022460
£56,00005/12/0611800030/09/13249162000£47,296£25
02/02/988700015/12/042508
24/03/997500014/02/062519
£60,50008/09/067300012/09/13256112500-£3,386£5
21/02/969000002/04/032597
12/06/958995009/09/022646
£31,00008/09/0310650017/12/10265775500£68,274£28
20/12/948550023/04/022681
£8,92519/09/008300019/02/08270974075£71,741£27
£14,25001/12/008500007/05/08271470750£67,023£26
£105,00022/10/0812500015/04/16273220000-£3,565£7
23/01/959300011/09/022788
27/11/026500016/07/102788
07/02/955295030/09/022792
05/08/945750022/04/022817
28/05/9840700023/02/062828
25/11/996700029/08/072834
£54,00020/12/067800009/10/14285024000£8,211£8
£39,00017/03/065000029/01/14287511000-£403£4
£77,00014/03/0711300005/02/15288536000£16,632£12
21/09/9519000015/10/032946
01/05/968295019/07/043001
24/05/9613500015/09/043036
13/09/9510400018/02/043080
£47,50015/10/0210200011/04/11310054500£38,598£18
21/06/9521300016/01/043131
24/09/935295007/05/023147
£49,00013/11/066900010/07/15316120000£5,046£6
19/05/948450029/01/033177
04/11/9711995005/09/063227
07/07/9311800014/05/023233
£54,00026/07/069800009/06/15324044000£27,520£14
15/04/9750000009/05/063311
22/07/944595020/08/033316
02/08/9530300002/09/043319
07/03/967350019/05/053360
£68,00018/05/079300003/08/16336525000£6,419£7
£58,000.0025/05/047900019/08/13337321000£1,297£6
18/01/9410500007/05/033396
£55,00025/01/076300015/06/1634298000-£7,029£2
£35,50022/08/065200013/01/16343116500£4,862£5
03/02/945995001/07/033435
£57,50023/01/067100029/06/15344413500-£4,048£4
£34,00021/04/0612000014/10/15346386000£75,624£25
£58,50025/09/067700004/04/16347918500-£678£5
£84,00023/08/0710500013/03/17349021000-£5,787£6
07/09/9515100005/04/053498
£59,00021/04/0611700018/12/15352858000£39,994£16
£57,75021/11/077500027/09/17359817250-£1,166£5
£44,00028/07/057900007/07/15363135000£19,737£10
04/11/0213500006/11/123655
24/09/937999514/10/033672
12/05/9724550004/06/073675
£12,420.0005/11/035100017/12/13369538580£33,865£10
13/05/935650007/07/033707
£60,00024/05/077150019/07/17370911500-£7,634£3
£69,00014/12/0510000002/03/16373131000£5,452£8
26/05/9416400024/08/043743
17/08/9416400014/12/043772
07/06/934600020/10/033787
£41,00025/08/0410000009/01/15378959000£43,218£16
£74,00030/12/0513200019/05/16379358000£30,601£15
21/01/946595020/07/043833
04/11/0216500020/05/133850
05/04/9313495012/12/033903
05/10/937650024/06/043915
05/09/9513000022/06/063943
28/11/9611750001/10/073959
11/02/935875015/01/043990
£20,44018/03/037300006/03/14400652560£44,135£13
11/04/9512000028/04/064035
10/03/934400006/04/044045
03/05/967000028/06/074073
24/12/988350001/03/104085
18/07/9515495027/09/064089
16/10/9813500014/01/104108
£49,00009/08/067700029/11/17413028000£9,604£7
£46,50010/02/067800005/09/17422531500£14,042£7
£20,160.0007/05/046400008/12/15423243840£36,080£10
£56,50016/12/059500020/07/17423438500£14,805£9
10/03/9812300005/11/094258
05/06/9830000024/02/104282
05/01/9413500003/10/054289
19/11/975800019/08/094291
06/08/968200002/09/084410
£40,00026/07/056700026/09/17444527000£10,225£6
08/09/9410800018/01/074515
13/02/9512500002/07/074522
18/02/994250004/10/114611
11/10/9312700007/06/064622
20/09/958400028/05/084634
£20,00015/08/035500027/04/16463935000£25,982£8
02/02/985300018/10/104641
28/10/939800008/09/064698
02/09/979750023/07/104707
29/04/949500020/07/074830
£39,00022/07/047100017/10/17483532000£14,081£7
21/04/995100008/08/124858
11/08/948800004/01/084894
18/01/9612500015/06/094897
£9,00001/09/038000028/06/17504971000£66,474£14
£16,80009/07/037900010/05/17505462200£53,751£12
09/03/9328500022/01/075067
£12,76509/08/006000013/08/14511747235£40,809£9
16/07/995100018/11/135239
25/05/9317500008/10/075249
£17,00010/06/037850027/10/17525361500£52,950£12
20/07/995800017/06/145446
30/04/016000019/05/165498
07/07/9524750004/11/105599
12/06/967500019/12/115668
16/03/008000028/09/155674
19/04/946600001/11/106040
02/06/948000021/04/116167
19/11/9330300005/11/106195
08/03/998200023/03/166225
24/09/997550013/12/176655
08/05/985550015/11/166766
13/05/937300023/12/116798
24/12/977950023/02/177001
19/04/9320850020/08/127063
12/01/955500002/12/147264
26/11/9626500017/01/177357
01/08/967500023/10/177753
05/08/948600005/07/168005
11/05/9524500019/04/178014
02/09/9430200020/06/178327
Source: Shared Data Unit, BBC Local News Partnership



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