REPORT REVEALS THAT SHARED OWNERSHIP IS ONE OF THE BEST WAYS OF GETTING ONTO THE HOUSING LADDER
- 24 Jan
A report published by the Chartered Institute of Housing and Orbit reveals shared ownership is now one of the best-known ways of getting onto the housing ladder, according to 24housing.
The report, Shared Ownership 2.1, shows the following:
- The progress of shared ownership, which offers potential buyers the chance to purchase part of their home and pay rent on the remaining share
- The tenure is affordable across most of the UK
- It is significantly over-subscribed and that the sector has the capacity to build many more homes
- 34% of the 2,200 adults polled by Ipsos MORI said they knew about shared ownership
- 32% who knew about right to buy and 28% knew about the Help to Buy equity loan
- 18% of people had never heard of the tenure
- The government has been urged to invest in building more homes for the tenure
- Since then, 4.1 billion of funding has been earmarked to build 135,000 new shared ownership homes and the eligibility criteria have been relaxed
- More than 100,000 shared ownership homes have been built since 2001, 54,000 of these being managed by housing associations
- In 2016, there were 85,000 applications for 8,000 homes made available
- The average income of someone who is in a shared ownership home is £33,558 and is 33 years old
The deputy chief executive of the Chartered Institute of Housing, Gavin Smart, said:
"What this report shows is that shared ownership is now a popular and affordable route for many people in the UK to get a home.
"As house prices continue to rise, shared ownership is an option for the growing group of people for whom ownership is increasingly out of reach, but who don't have the level of need to qualify for social housing.
"It is pleasing to see more government funding being diverted towards shared ownership as this report makes it clear we need many more homes to cater for growing demand."
What do you think?
Please tweet comments @suppsolutions
Related articles
- 02 Nov
THE ONS PLANS TO CHANGE THEIR DECISION TO MAKE HOUSING ASSOCIATIONS PUBLIC BODIES
According to reports by 24 Housing, the ONS said the following:Gavin Smart, Chartered Institute of Housing's deputy chief executive also said:"Although we have been expecting this decision for some...
- 30 Aug
RECENT ANALYSIS FINDS THAT THE HELP TO BUY SCHEME HAS ADDED TO THE INFLATION OF HOUSE PRICES
The analysis of the Help to Buy Scheme revealed the following:The chief executive of Paradigm Housing Group, Matthew Bailes, said:" ... clearly, it worked well for developers, and for providers, it...
- 22 Aug
A NORTH WALES COUNCIL REVEALED THEIR WAITING LIST FOR NEW HOMES HAS REACHED BREAKING POINT
The north Wales Council revealed their waiting list for new homes has reached "breaking point".According to Clare Budden, Flintshire Council's community enterprise chief officer said:"There are...
- 17 Aug
HOMELESSNESS POLICY IS UNDER REVIEW IN A NORTHAMPTONSHIRE COUNCIL
Kettering Borough Council has amended its letters to homeless residents to let them know of their right to request a temporary accommodation review.According to an ombudsman, Michael King:"People in...
- 15 Aug
FINANCIAL CONSTRAINTS HAVE CAUSED THE CLOSURE OF MANY CHILDREN AND YOUTH CENTRES
Local Government Association (LGA) made the following findings:Chair of the LGA's children and young people board, Richard Watts, said: "The reality is that services for the care and protection of...
- 11 Aug
RESIDENTS OF BUILDINGS IN LEDBURY ESTATE, SOUTHWARK, SOUTH LONDON WILL BE MOVED OUT TEMPORARILY
The buildings in Ledbury Estate in Southwark have been constructed in a similar way to Ronan Point, a tower block in Newham which collapsed in 1968 as a result of a gas explosion, killing three. An...
- 10 Aug
THERE IS A DECLINE IN THE HOUSING MARKET IN LONDON AND OTHER PARTS OF THE SOUTH EAST OF ENGLAND
The Royal Institution of Chartered Surveyors (Rics) made the following findings:Chief Economist at Rics, Simon Rubinsohn:"Sales activity in the housing market has been slipping in the recent month...
- 07 Aug
REPORT FINDS THAT PEOPLE ARE INTENSELY SUFFERING FROM LACK OF AFFORDABLE HOMES IN SCOTLAND
According to the report by "Shelter":Shelter's deputy director, Alison Watson, said:"This report shows the disproportionate impact of Scotland's housing crisis on young people and private renters who...
- 02 Aug
NEW REPORT BY THE PUBLIC ACCOUNT COMMITTEE IN WALES COMMENDS HOUSING ASSOCIATIONS
The report which was put together after nine months of inquiries stated the following:Nick Ramsey, Chair of the Public Accounts Committee, said:"Generally, we found governance and regulation within...
- 31 Jul
LONDON COUNCIL URGES THE GOVERNMENT TO MAKE MEASURES TO END LETTING FEES FOR PRIVATE RENTERS
The London council say urgent action is needed because the government has not provided "a clear timescale to introduce its own measure", Letting Agent Today, reports.Last year, the government had...
Responding to the DWP Consultation: Housing Benefit Reform - Supported Housing "I thought this briefing was very good and very useful. The presentation was clear, well argued and I always find Michael gives me food for thought even if I don't agree with everything he says. I really like the way he facilitates a discussion in the room and I learn as much from other participants as I do from the presenter which is always good. Right length, right tone." R.P. - Richmond Fellowship
