The vast majority of council properties were sold in the 80s and early 90s. But it paid for a tax cut to help them win an election or two.
Looking at the graph I posted earlier the same could be intepreted of labour in the early noughties perhaps?
They did, for a while, after c.40 years of taking a large portion of it. The statement made is just about accurate.
The height of the sell off no they weren't- majority of the houses are now sold so not enough to raise money to build new ones. This was the ruling Half the proceeds of the sales were paid to the local authorities, but the government restricted authorities' use of most of the money to reducing their debt until it was cleared rather than spending it on building more homes.