The council intends to re-purchase some of the thousands of socially rented homes it has lost to the "Right to Buy" scheme.

The authority said it had lost 5,500 social rented homes to the scheme since its introduction in 1980 and families in the borough faced "a chronic shortage of social and affordable housing".

More recently, 249 socially rented homes in Bury have been transferred to private ownership under the scheme since 2018.

The council has developed a new policy buy back some of the properties previously purchased by tenants under Right To Buy (RTB), which is set to receive approval by the authority’s cabinet next week.

They intend to introduce a "buy back and acquisitions" policy to purchase homes in private ownership and convert them into social and affordable housing.

They said the move would "help meet housing needs in the borough and reduce homelessness".

The policy will allow the re-purchase of properties previously sold under Right to Buy legislation when they come on the market, the acquisition of long-term empty properties, the purchase of existing housing in private ownership that meets the needs of specific client groups and to snap up the "affordable homes" element of new-build private developments.

Properties acquired under the policy will be added to the council’s stock and allocated to eligible applicants on housing waiting lists.

The council said purchases could be funded through RTB capital receipts, rental income and sums from section 106 planning agreements.

A report to the council cabinet said: “There is a chronic shortage of social and affordable housing.

“The housing shortage has led to a significant increase in rents and property prices, acutely impacting low income and vulnerable households.

“The Right to Buy scheme has been a principal factor in the reduction of social and affordable housing in the borough.

"Since the introduction of the scheme in 1980, the council has lost around 5,500 social rented homes.

“There are no indications at present that the scheme will be revised or cancelled and, as such, new and existing social and affordable housing remains exposed to the application of RTB.”

The council currently has a contractual right to purchase properties previously sold under the RTB legislation within a specific 10-year period.

All properties sold under the scheme in Bury since January 2005 are bound by the right of first refusal covenant.

If an owner of a property bound by the covenant wishes to sell their property within 10 years of purchase, they must first offer the property back to the council, however the council does not have an obligation to buy back.

The policy states that the council will prioritise the acquisition of properties previously sold under the RTB legislation which are particularly suitable for the elderly, physically disabled, mentally ill or the intellectually disabled.