More flexible and more affordable housing options are in high demand, and shared ownership initiatives are proving particularly popular as they give all of the advantages of home ownership on the terms that buyers can afford.
Housing association Aster is supporting buyers, by offering a range of homes across the South that are available through shared ownership schemes. The shared ownership scheme within Hampshire gives buyers the opportunity to purchase between a 25% to 75% share of a property, paying a subsidised rent on the remainder.
With prices starting at £118,000* for a 40% share, buyers could secure one of the brand-new properties for a 5% deposit for as little as £5,900*.
Not only do shared ownership schemes eliminate the need for a ridiculously hefty deposit, they also give the opportunity to purchase back shares of the home as and when buyers are ready.
In theory, buyers could continue to purchase back shares within their home, in turn reducing the level of rent owed to the housing association, before owning the home completely outright.
Below are just some of the areas in the South that currently have fantastic shared ownership options available.
Surrey
Well connected to London, Surrey one of the most popular Southern counties when it comes to property purchases, and it’s easy to see why. The majority of Surrey is extremely well connected, with transport links that can get you from home to the centre of the city in less than an hour.
Not only this, Surrey is full of lush greenery, making it an ideal place to set up a family home, and enjoy a little more of the outdoors, whilst still having access to the city life.
Shared ownership schemes are cropping up left right and centre throughout Surrey, and there are some really fantastic deals to be had if you’re looking in the right places. west s providing particularly popular with buyers, but there are also schemes available in areas such as Farnham and Badshot Lea.
Devon
According to a recent YouGov survey, Devon is the most popular county in the whole of the UK, thanks to its natural beauty, friendly atmosphere, a strong taste for great local produce and intriguing architecture.
With more and more people looking to purchase in the area, it’s no wonder shared ownership schemes are becoming more readily available. Homes are currently available on the scheme in popular areas such as Barnstaple, Exeter and Paignton.
Cornwall
Thanks to an insurgence in “second home” purchases within the beautiful and picturesque county of Cornwall, getting onto the property ladder has proved difficult in recent years.
Housing associations are doing their bit to ensure those looking to purchase on the open market within the area have a fair chance of doing so, by offering homes through a shared ownership scheme.
Truro and Newquay are known for their stunning scenery, but also make great bases for those looking to make a home, hence the rise in available options within these areas.
Hampshire
Thanks to a rise in popularity, an influx of shared ownership homes for sale in Hampshire has made the outlook of potential homeowners more positive within the area. Many London renters are looking to the area to begin their home-owning journey.
The opportunity to reside within a county that boasts both countryside and coastal living opportunities is a hard one to turn down. Whilst the Hart district regularly scoops the title of “Best place to live within the UK”, there is a range of popular and up coming towns and villages where shared ownership properties are readily available.
Oxfordshire
With a cultural capital as well known as Oxford, it’s understandable that Oxfordshire has long been a popular place to reside.
Although best known for its honey-coloured stone architecture and prestigious universities, Oxfordshire is made up of an eclectic collection of quaint villages, perfect for purchasing a home in. Areas such as Didcot, Shrivenham and Stadhampton all have homes on the market through a shared ownership scheme.
*Prices start for a two-bedroom terrace house through the shared ownership scheme at The Haven, Emsworth from £118,000 based on a 40% share of the full market value of £295,000. For further information or to register your interest visit www.aster.co.uk.
