Affordable home plan given backing by Wolverhampton chiefs
Properties will be bought by a council in the Black Country in a bid to convert them into affordable homes.
Chiefs at Wolverhampton Council said the move would allow them to help people in need more effectively.
Houses – or leaseholds – which meet certain requirements will be bought up with a budget of £2.5 million.
Councillor Jacqueline Sweetman, cabinet member city assets and housing, said: "This will help people have more choice in affordable housing and it's very important.
"Previous policies have been reviewed in order to maximise how we operate – to buy new build properties and improve our existing housing stock."
The funding has come from a "re-invigorated" Right to Buy scheme – allowing money generated from the sale to be ploughed into a funding pot.
The cash pot – the Housing Revenue Account (HRA) – can then be used for additional social housing in the city.
Properties sold to people through the scheme can also be bought back by the local authority.
A report said: "It is proposed that consideration is also be given to targeted interventions to support the council’s strategic objectives and broader housing outcomes, by purchasing existing market stock in the city and converting it to affordable housing.
"The priority for adding to the council housing stock will always be for new build housing, in order to create an overall increase to the number of homes within the city."
Councillor Ian Brookfield, leader of the authority, added: "We appreciate what this particular policy is doing, funded by the Housing Revenue Account and not the council tax payer.
"It's getting more flexibility and more stock for our council homes. We're trying to help as many people as possible in our city."
