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Examination of Witnesses

Part of High Speed Rail (Preparation) Bill – in a Public Bill Committee at 12:00 pm on 9th July 2013.

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Sarah Hayward: Yes. About 20% to 25% of the properties affected are of right-to-buy leaseholders, almost all on the Regent’s Park estate, which you can look up on a map. It is just to the west of Euston station. Having invested in the equity of their communities, they would not have sufficient equity in their right-to-buy property to buy a new flat in the local area. Many of those people will be significantly disadvantaged.

A two-bedroom right-to-buy property on the Regent’s Park estate would currently sell for about £250,000 to £270,000. A new build two-bedroom home in Camden would market from anywhere upwards of £450,000. That is the nature of the property market in Camden. There is going to be a significant disadvantage to people who invested in the equity of their communities and have roots in the local area, send their kids to local schools, work in local jobs and go to local churches.