This archive report concerns Common Wealth's study published on 3 August 2025. The original publication date is retained. The figures were checked against the thinktank's report on 16 October 2026 and remain estimates from that historical analysis.
What the report measured
Common Wealth examined council homes sold in England through Right to Buy since 1980. Its analysis covered 1.9 million homes and estimated their combined later market value at £430bn.
The report calculated that the housing equity corresponding to sale discounts was worth £194bn at the prices used in its analysis. This is a valuation of equity associated with historic discounts, not a claim that councils wrote a single cheque for that amount.
Keep the measures distinct
Cash proceeds at the time of sale, inflation-adjusted receipts and the later value of housing are different measures. Combining them without their dates and definitions can make an argument appear more straightforward than the underlying calculation.
The report also offered a critical interpretation of the policy. That interpretation belongs to its authors and should be distinguished from an independently established causal conclusion about every aspect of today's housing market.
Use the original methodology
When comparing this study with another housing report, check the geographical coverage, period, valuation assumptions and treatment of inflation. Keep those details beside any headline figure in research notes.
A dated estimate can inform discussion without being presented as a current audited balance. This article summarises the historical research and does not reproduce its political commentary or offer a forecast.