Councils will be forced to sell off the most expensive third of residential properties under their control if the Conservatives come to power.
The money generated will be used to extend the Right to Buy scheme so that 1.3m tenants have the option of buying their housing association homes at a discount.
The maximum discount is £77,900 per house for areas outside London and £103,900 for areas in the capital.
Some 800,000 people currently have the right to buy but under a Tory government an additional 500,000 tenants would be able to purchase their homes.
The scheme has been criticised for diminishing affordable housing, and is being abolished in Scotland and Wales. However, Conservative leader David Cameron has pledged to replace all homes taken out of stock.
UKIP’s economic spokesman, Patrick O’Flynn, has said that non-British nationals will not have the right to buy or to benefit from help-to-buy schemes under his party.
