£2.4bn is being raised in new affordable housing investment as a result, new figures have revealed.
Housing Minister Brandon Lewis welcomed the news as a further sign of how government action is helping people get on and move up the housing ladder.
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He announced that Right to Buy discounts will increase again in April 2015, so more people have the chance to buy their home. Right to Buy eligibility is also being extended through a new law before Parliament.
Minister Lewis said: "The Right to Buy gives something back to families who worked hard, paid their rent and played by the rules. It allows them to do up their home, change their front door, improve their garden – without getting permission from the council. It gives people a sense of pride and ownership not just in their home, but in their street and neighbourhood."
(CD/JP)
