The housing sector reacted with a mixture of incredulity and scorn to this week’s announcement that a Conservative government would extend the right to buy to housing association tenants.
Speaking at the party’s annual conference this week David Davis, shadow to deputy prime minister John Prescott, said the programme would be extended to “more than a million” association tenants.

Association tenants would receive the same discounts and conditions as council tenants, with money raised going into new build, compulsory purchase and renovations.

Davis admitted the policy would be more popular with tenants than landlords, but said stock would reduce by just 1% a year.

Housing charity Shelter, however, said such a policy would exacerbate housing shortages.

The National Housing Federation and Chartered Institute of Housing both pointed out that association tenants had the right to buy until a Conservative government changed the rules, allowing registered social landlords to borrow privately. Re-extending the policy would infuriate lenders, they warned.

NHFpolicy officer John Bryant added: “It’s hugely impractical – anything that requires us to sell stock that has private money tied up in it for less than it’s worth will bring down the wrath of the lenders.”

Chartered Institute of Housing policy analyst Mark Lupton said: “Given the challenges that we face in housing policy, it’s a great shame the Tories can’t come up with anything more imaginative than this.”

He pointed out that the Conservative policy could scare off some of the few banks and building societies willing to lend to RSLs.