4 Sep 2018

Shared ownership provides valuable housing solution

The need for shared ownership has, arguably, never been greater. With house prices continuing to rise – they are now often more than 10 times the average salary – the last few years have seen more and more people struggle to get on the housing ladder. Yet the aspiration to own a home remains strong.

Shared ownership enables people to part-buy and part-rent their own home. It's an ideal option for people who cannot afford to buy a property outright on the open market, because they buy a share in a property and pay a subsidised rent on the remainder. They can gradually buy more shares if they want to, until they own the whole property.

The latest figures from the National Housing Federation's Home Truths report show that the average house price in Wiltshire is now £289,993, more than 11 times the average salary of people living in the county. So it's not surprising that more and more people are looking for shared ownership properties.

GreenSquare Homes understands the importance of offering new homes for shared ownership, like the ones it currently has for sale at George Ward Gardens in Melksham (located on Bath Road). 

Faye Stobbs, GreenSquare Homes' Shared Ownership Sales Negotiator, said: “Shared ownership is a fantastic affordable option for young people and aspiring home owners, who are simply priced out of the open market. It’s an alternative to renting or full ownership but gives you the same rights and responsibilities as any other homeowner.  

"We still have two-bedroom houses available for shared ownership at George Ward Gardens, which people can purchase a 40% (or more) share in with only a 5% deposit. These lovely new homes are perfect for anyone who is looking to make their first step onto the housing ladder."

For more information about shared ownership and the shared ownership properties that GreenSquare Homes has available, please visit www.greensquarehomes.com.