The Communities Secretary Eric Pickles had ordered Town Halls to sell off any council homes worth more than £1 million, in order to fund more social housing projects.
Mr Pickles has said local councils must publish by postcode the details of their housing stock – which would include the value of individual properties and whether they are occupied.
The move may be enforced from April 2015 – and is intended to put pressure on councils to start building more affordable housing.
In London, some councils are beginning to buy back affordable homes which were sold under Right to Buy and which have come back onto the market.
The London Borough of Islington in north London is one council which has earmarked millions to buy back Right To Buy properties for social housing.
In south London, Southwark Council sold a Grade II listed house for £3m – and as a result 20 new social housing properties were funded. Southwark owns more than 30,000 properties among its social housing stock. London boroughs like Islington and Camden own around 20,000 properties.
The rising population in Britain and spiralling property prices – partly because of investment in the UK property market by overseas investors – has led to a shortage of affordable housing and rapidly rising rents.
Mr Pickles said that instead of councils holding equity in expensive council housing stock that was empty, the properties should be sold to the private sector and the proceeds re-invested to provide more social housing.
“This would allow more families to come off social housing waiting lists and get into homes,” he said.
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