Shared Ownership Properties Receive 5.5x More Enquiries than Sole Ownership Properties
Shared ownership is on the rise with recent research from House Tree revealing that housing association schemes receive 5.5 times as many enquiries than their sole ownership counterparts. The statistics were drawn from random property enquiry samples compiled over the last six months and offer intriguing insight into the current property trend of shared ownership. At its essence, the increased interest highlights the financial struggles of prospective buyers and the demand for a realistic alternative to sole ownership property.
With recent research from the ONS indicating that UK house prices have risen by an average of 9.9% in the past year, buying a home continues to remain a pipedream for many first time buyers, low income earners and young families. Furthermore, experts are predicting that the boom isn’t set to slow down until at least 2017.The result is a nationwide crisis with many UK residents facing eviction, temporary accommodation and even homelessness.
Campbell Robb, the chief executive of Shelter, said "Each rise in prices means more people stuck living in their childhood bedrooms, or trapped in the cycle of moving from one expensive rented home to the next.”
As a result of the nationwide issue, shared housing schemes have emerged as a popular alternative for those that simply cannot afford to put down deposits and take on expensive mortgages. Available to households earning under £60,000 a year, first time buyers and anyone that does not already own their own home. Leasehold agreements have opened up property doors for thousands of Brits. The affordable home ownership scheme offers buyers a step up onto the property ladder and ensures that the appreciating value of UK property can be harnessed by a diverse demographic.
Tom Harrington, Managing Director at House Tree said, “The UK is currently experiencing an unprecedented property boom which is fantastic for those with the money to invest. However for the less fortunate, buying property is largely considered an out of reach dream. Shared ownership schemes offer a constructive solution to the issue and ensure that the benefits of the thriving property market are shared by the nation.”
Blending the benefits of a traditional estate agent with the convenience of online technology, House Tree offers shared ownership clients an unmatched level of service, expertise and industry insight.Hightown Homes is the trading name of charitable housing association Hightown Praetorian & Churches. They have been using Housetree to promote their shared ownership properties in Hertfordshire and Buckinghamshire areas.
Eva Hollands, Sales and Lettings Manager for Hightown Homessaid, “House Tree offer a really effective way of promoting our properties to first time buyers. They provide us with a constant feed of high quality customers for our Shared Ownership Homes”.
To find out more about House Tree and how it is helping Housing Associations across the UK market properties, visit: www.housetree.co.uk
Please direct press queries to Rebecca Appleton at Dakota Digital. Email Rebecca@dakotadigital.co.uk or Tel: 01623 428996.
About House Tree:Led by an experienced team of valuers, negotiators and customer service agents, House Tree has emerged as one of the UK’s leading online property companies. The company list properties on over 150 major property websites, ensuring that its homes get maximum exposure. By blending the personalised service of traditional estate agents with the benefits of modern technology, House Tree is at the forefront of the shared ownership scheme trend.