It’s “unfair that people are profiteering” by selling Right to Buy homes back to councils, London mayor Sadiq Khan has said after a Big Issue investigation revealed ex-tenants making hundreds of thousands of pounds in profit on Yo-yo Homes .

Taxpayers in the capital have lost out on tens of millions of pounds in London boroughs over the past five years – money flowing to private hands as town halls try to reverse Right to Buy by buying back homes they were forced to sell.

The Yo-yo Homes include a property on Islington’s Caledonian Road, sold under Right to Buy in 2014 for £130,000 and then repurchased in 2023 for £460,000 – a loss of £330,000 on a single property.

Another property, in Camden was sold for £180,000 in 2014 and then repurchased for £495,000 in 2023 – a loss of £315,

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