Award-winning shared ownership provider SO Resi recently launched its latest phase of new homes in the capital, SO Resi Hendon Waterside, comprising 42 studio, one and two-bedroom apartments, as well as two and three-bedroom duplex homes. According to research from Zoopla, the average first time buyer deposit in London now
Blending city and countryside lifestyles, Welwyn Garden City is quickly becoming an untapped hotspot for those wanting to be within touching distance of London but surrounded amongst acres of green space. SO Resi’s latest launch in the so-called ‘Utopia’ of Hertfordshire will see the new homes enter the affordable property
Shared ownership provider SO Resi has launched a new development in Stanford-le-Hope, Essex, that uses the latest in construction and microgeneration technology to create homes that are greener, warmer and cheaper to run. Unveiled last weekend (Saturday 11th June), SO Resi Hope Green comprises a total of 153 new homes
Birmingham is making headlines as excitement around the 2022 Commonwealth Games builds – sparking a regeneration that looks set to result in the highest house price inflation in the country over the next five years. With HS2 promising a commute of less than an hour to central London, not to
Gresham House and ilke Homes have cause for celebration, as of 30th November the organisations officially broke ground at their first partnership zero carbon development at Hope Green in Stanford-le-Hope, Essex. Delivered by ilke Homes and funded by Gresham House, via its evergreen UK limited partnership Gresham House Residential Secure
The award-winning team at SO Resi has launched an innovative new shared ownership sales agency for external parties, be it other housing associations, local authority housing providers, investment funds or private developers. In the spirit of sharing best practice, the team wants to share their approach to ensure greater access
SO Resi, the shared ownership brand of leading housing association Metropolitan Thames Valley Housing (MTVH), has joined forces with Cambridge University to release the first annual report into the status of shared ownership in England. The findings of the report, by Dr Gemma Burgess, Acting Director of the Cambridge Centre
SO Resi, the shared ownership brand of leading housing association Metropolitan Thames Valley Housing (MTVH), will release its first annual report to unveil new research into shared ownership. The research has been undertaken together with Cambridge University and the findings will be discussed during a virtual roundtable on Wednesday 3rd
Despite the country being placed into its second national lockdown last month, SO Resi has reported continued strong demand for shared ownership in November. SO Resi, the shared ownership brand for Metropolitan Thames Valley Housing, saw enquiries soar by 88% when compared to the same month last year. The housing
Award-winning shared ownership provider SO Resi recently launched its latest phase of new homes in the capital, SO Resi Hendon Waterside, comprising 42 studio, one and two-bedroom apartments, as well as two and three-bedroom duplex homes. According to research from Zoopla, the average first time buyer deposit in London now stands at a staggering £63,750 , compared with the UK average of £34,500. SO Resi Hendon Waterside will offer a more accessible route to homeownership, with the new homes exclusively available to purchase through shared ownership. Shares in the homes at Hendon Waterside will be available from 25%, with prices starting from £84,375, which means that a deposit for a home could be as low as £4,218.75. The development will appeal to young professionals and commuters in the capital and surrounding Home Counties looking to place a foot onto the property ladder. All homes incorporate a high specification as standard, with features such as laminated worktops and upstands, fully fitted kitchens with Zanussi and Electrolux appliances and selected apartments including a parking space too. Open-plan living is also incorporated here, with generously proportioned bedrooms for ample space for working from home needs. Kevin Sims, Director of Sales at SO Resi, comments: “The average cost of a first time buyer deposit in London continues to rise, so it is little surprise that many young people feel priced out of buying a home in the capital. Shared ownership is becoming an increasingly attractive prospect for buyers, thanks to its flexibility and low five per cent deposit requirement. At SO Resi Hendon Waterside, prices start from £84,375 for a 25% share which is a far more achievable goal for many aspirational first time buyers. “Hendon is an appealing location for young people, thanks to its fantastic amenities, excellent connections and most importantly, a more accessible price point when compared to other London postcodes. We are especially looking forward to introducing our larger three-bedroom duplex apartments, which offer a unique chance for families looking for more space in the capital to make use of the shared ownership scheme. Previously, we have seen extremely strong demand on homes at this development and predict this phase to be no different as first time buyers look to escape the rental trap and get onto the property ladder.” Hendon Waterside forms part of the wider £9.6 billion North West London regeneration scheme by Barnet and Brent Borough Councils. The development sits in the heart of the Welsh Harp Reservoir which offers scenic trails, waterside footpaths and green sheltered woods for residents to enjoy. For retail options, the borough’s rejuvenated Broadway has seen a range of well-known shops, bars, and restaurants open in the town centre. Further afield, Brent Cross Shopping Centre is just a five-minute drive away and serves as North London’s go-to shopping and entertainment destination. Located in Zone 3 on the London Underground, the development has excellent transport links offering services from Hendon Railway Station, which is just a short walk from the development, and Hendon Central tube station, reaching central London via the Northern Line in under 20 minutes. Road connections also will serve residents well, with the M1 and M25 motorways within easy reach, and Heathrow Airport approximately half an hour away. SO Resi Hendon Waterside offers a collection of 42 studio, one and two-bedroom apartments and two to three-bedroom duplexes available through shared ownership, with prices starting from ££84,375 for a 25% share in a studio home [full market value: £337,500]. To find out more, visit www.soresi.co.uk or call 020 8607 0550. Building, Design & Construction Magazine | The Choice of Industry Professionals
Blending city and countryside lifestyles, Welwyn Garden City is quickly becoming an untapped hotspot for those wanting to be within touching distance of London but surrounded amongst acres of green space. SO Resi’s latest launch in the so-called ‘Utopia’ of Hertfordshire will see the new homes enter the affordable property market which has experienced a boom in 2022.[1] Sitting in landscaped gardens and designed around the iconic Shredded Wheat Factory, SO Resi Welwyn Garden City complements the area’s rich heritage. All apartments will benefit from private balconies and terraces to enjoy the local scenery. The new homes are available through shared ownership with prices starting from £68,750 for a 25% share. Residents then have the opportunity to purchase more shares through a process known as ‘staircasing’, which enables them to eventually own 100% of the property. Founded by Sir Ebenezer Howard 102 years ago, this ‘garden city’ was designed to give residents the best of both worlds. The town, which includes a 126-acre park, sits a 29-minute train journey from London Kings Cross making it an ideal balance of the two. It also offers a fortnightly food and craft market, unique pubs in the outlying villages as well as largescale community initiatives including the Barn Theatre which hosts the Welywn Drama Festival annually in May. Kush Rawal, Director of Residential Investment at SO Resi, comments, “SO Resi Welwyn Garden City is our second development to launch in the town highlighting the need and want for accessible properties in the area. With a combination of fast connections to London and ample green countryside, we have seen interest from young professionals, especially those who are first time buyers, wanting to get the best of both worlds without breaking the bank especially during the current economic climate. We are proud that our shared ownership scheme here will offer buyers an opportunity to get onto the property ladder in a commuter hotspot at an accessible cost.” SO Resi Welwyn Garden City is also ideal for those seeking access to an adventurous lifestyle. The Gosling Sports Park sits on the development’s doorstep, offering a dry ski slope, a cycling velodrome, driving range and athletics track to name but a few of its amenities. As well as this, the two large lakes providing opportunities for residents to enjoy a variety of water sports at the activity centre. The area is also home to a variety of ‘good’ and ‘outstanding’ Ofsted primary schools and secondary schools, with GCSE and A-Level results recorded well above average. SO Resi Welwyn Garden City is a collection of one, two and three-bedroom homes, with prices starting from £68,750 for a 25% share in a one-bedroom apartment [full market value £275,000]. To find out more, visit www.soresi.co.uk or call 020 8607 0550. [1] https://metro.co.uk/2022/02/01/welwyn-garden-city-is-a-surprisingly-cheap-place-to-buy-for-commuters-16024550/
Shared ownership provider SO Resi has launched a new development in Stanford-le-Hope, Essex, that uses the latest in construction and microgeneration technology to create homes that are greener, warmer and cheaper to run. Unveiled last weekend (Saturday 11th June), SO Resi Hope Green comprises a total of 153 new homes – 138 two-, three- and four-bedroom houses and 15 two-bedroom apartments – the vast majority of which will be operationally zero carbon. In a UK-first, four of the homes are guaranteed to have no energy bills. Kush Rawal, Director of Residential Investment at SO Resi, said: “At a time that many people are struggling with high energy bills, it is pleasing to launch the first and largest operational net zero carbon development in the UK. We put much emphasis on sustainability, and it is rewarding that our focus has resulted in this memorable milestone. Green living often comes at a cost and usually is unattainable for the affordable housing sector. However, as a united development team with our partners, we have shown that it’s both achievable and needn’t compromise on the quality of the houses or the setting.” The homes at SO Resi Hope Green will be built around a significant amount of green open space. To add to the appeal for families, the area will include play areas, nature trails, plus a network of footpaths and cycleways meaning the nearby town is easily accessible for jobs, shops and the train station into London Fenchurch Street. The scheme also includes biodiversity areas and attractive water features to encourage local wildlife and add to the attractiveness of the neighbourhood. SO Resi is working with ilke Homes, a modular housing pioneer that delivers high-quality, energy-efficient homes in half the time of traditional methods, and includes ilke Zero, the UK’s first mainstream zero carbon housing offering. Low-carbon technologies will be supplied by Octopus Energy, which is providing a tariff specifically for Hope Green residents to give free, clean energy around the clock. Funding has been arranged through Gresham House, a specialist alternative asset management group, dedicated to sustainable investments. The new homes come with air source heat pumps, which require just a third of the energy of conventional heating systems, solar panels and battery storage technology fully installed. In addition, the homes will be highly insulation, including airtight windows and doors, feature high-performing building fabric and have low-cost LED lighting throughout. This means, not only will they generate enough energy for each house to be operationally carbon neutral, but also give potential for income from exported electricity. Stanford-le-Hope is a small town that retains a village feel, with the river Hope running through its centre and the 800-year-old St Margaret’s Church providing a beautiful landmark. Thurrock Thameside Nature Reserve is nearby, home to native reptiles and butterflies. A highlight of the visit is the walking the causeway over the lake, which is rich in biodiversity and home to many varieties of birds, including ringed plovers, shelducks, dunlins, black-tailed godwits and redshanks. Alternatively, follow the Thames Estuary Path towards Pitsea, taking in quiet marshland and fields. There are plenty of local shops in Stanford-le-Hope, but the development is ideally situated for more serious retail therapy – Lakeside shopping centre is 20 minutes away by train or car, Basildon’s Eastgate Centre is a 10-minute drive and Bluewater shopping centre is less than half an hour away. There is a good selection of nearby schools to choose from, with several primary schools and a secondary school rated as Good by Ofsted in the town. Prices start from £88,500 for a 30% share in a two-bedroom house with a full market value of £295,000. For more information call 0208 607 0550 or visit www.soresi.co.uk.
Birmingham is making headlines as excitement around the 2022 Commonwealth Games builds – sparking a regeneration that looks set to result in the highest house price inflation in the country over the next five years. With HS2 promising a commute of less than an hour to central London, not to mention the raft of blue-chip companies recruiting in the region, there has never been a better time to move to the area. SO Resi Solihull is a new shared ownership development that formers part of the wider Oakhurst Village scheme set in the small town of Shirley, just outside Solihull on the southern fringes of Birmingham. With excellent public transport into the city, not to mention every amenity close at hand, it offers all the benefits of proximity to Birmingham combined with small-town friendliness. Shared ownership at SO Resi Solihull offers eligible buyers a chance to buy a portion of a property and pay a monthly payment to cover the share they haven’t bought – with the option to buy more shares until they eventually own 100% of the lease. With homes ranging from two-bedroom apartments to three-storey, four-bedroom houses, the development caters for every type of buyer. Property experts are predicting that over the next five years, the average value of a home in the city could rise by 4.9 per cent every year – the fastest anticipated growth for any UK city – surpassing the 4.7% rise expected in both Manchester and London. This comes on top of strong growth that has already seen prices rise by 56% since 2013. For buyers who are desperately trying to save up for an initial deposit, this doesn’t sound like good news – but with a SO Resi home, you need a deposit of as little as 5% of the share you are buying, putting the Birmingham buzz back within reach of many more potential buyers. Kush Rawal, Director of Residential Investment at SO Resi, comments: “The Birmingham area is becoming highly sought-after, with the Commonwealth Games driving its profile and bringing thousands more high-earning jobs to the area – SO Resi Solihull is ideally placed to help people start the journey to homeownership in a well-connected and convenient location, enabling them to make the most of all the opportunities available in this vibrant and growing area.” SO Resi Solihull is close to Shirley’s busy high street, with a great selection of independent retailers, as well as all the major supermarket brands in close proximity. The town is particularly well served by restaurants, with Argentinian, South Indian, Italian, Japanese, Turkish, Chinese, Thai, German and traditional British food on the doorstep. Shirley Park offers a skate park, tennis courts, outdoor gym and play area, while parents will be pleased with the selection of local schools. Shirley railway station is 2.5 miles away from the new homes, offering services to both Snow Hill and Moor Street stations in the centre of Birmingham, around 10 miles away, as well as routes to Stratford-upon-Avon. In addition, local buses head into Solihull centre and Birmingham, making it easy to get around. All of the homes are finished to a high quality, with tiled kitchens fitted with a range of integrated appliances. Every home has private outdoor space – turfed gardens in the case of the houses, and balconies or terraces to the apartments, extending the living space into the open. Layouts are versatile, with a focus on open-plan living areas and good sized bedrooms, with an en suite to the main bedroom in all properties as well as a family bathroom with bath and shower. Plenty of natural light and convenient storage spaces mean that the spaces feel spacious and uncluttered. The first phase of three and four-bedroom houses at SO Resi Solihull will be available from Saturday 9thApril. Prices start from £105,000 for a minimum 30% share in a three-bedroom house with two parking spaces [full market value: £350,000]. For more information call 0208 607 0550 or visit www.soresi.co.uk.
Gresham House and ilke Homes have cause for celebration, as of 30th November the organisations officially broke ground at their first partnership zero carbon development at Hope Green in Stanford-le-Hope, Essex. Delivered by ilke Homes and funded by Gresham House, via its evergreen UK limited partnership Gresham House Residential Secure Income LP (GH ReSI LP), the development at Hope Green is set to become one of the first and largest operational net zero carbon residential developments to be delivered in the country. Sales launch off plan in January 2022 and will be marketed by the sales and marketing team at SO Resi exclusively for shared ownership. Due to additional investment by Gresham House more than two-thirds of the properties at Hope Green will include innovative technology meaning the houses will generate enough energy to become operationally carbon neutral. Crucially, the boilers will be replaced with air source heat pumps, which require just a third of the energy of conventional heating systems. In addition, photovoltaic (PV) panels will be installed which will generate electricity to support the functionality of the home. Gresham House have worked with ilke Homes to build in other sustainable measures including highly insulated homes, efficient LED lighting, and water fittings. Alistair Wardell, Investment Director within Gresham House’s Housing team comments: “It is vital that corporations consider the long-term sustainability implications for delivering residential housing. This is particularly the case for the affordable housing sector, where more acute financial constraints generally preclude investment into greener living and technology. We are proud to be working in partnership with ilke Homes to deliver Hope Green, as the first of several pioneering residential developments in the pipeline for the partnership, which is seeking to break the mould while working towards a greener future. With most houses being upgraded to operational zero carbon, our investment at Hope Green is helping to create a genuinely affordable development for future homeowners alleviating fuel poverty issues whilst protecting the environment. “Gresham House’s aim to invest in better placemaking through sustainable innovation is supported by the ilke Homes’ fully modular construction method. The homes are built in a factory setting, which allows for greater build efficiencies with significantly less waste and reduced carbon emissions during the construction process. The speed of delivery to site, provides enhanced returns from the development and means the model can deliver much-needed housing at a rate closer to market demand.” Kush Rawal, Director of Residential Investment at SO Resi, adds: “It is crucial that companies take sustainability seriously, but often greener living comes at a cost and is unattainable for the affordable housing sector. We are proud to be working in partnership with Gresham House’s Housing team and ilke Homes to deliver a truly unique development as we work towards a greener future. With the majority of houses being zero carbon, SO Resi Hope Green is helping to create a genuinely sustainable development for future homeowners at an affordable cost.” Matthew Suggitt, Development Director (South East) at ilke Homes, comments: “This is the first land-led, package deal site that ilke Homes are delivering in the South-East market and we are proud to be delivering it as one of the first and largest operational net zero carbon developments in the UK. Sustainability is paramount to ilke Homes and to the collaborative partnership flourishing between ilke Homes and GH ReSI LP. These new affordable homes are testament to that ethos and our ambition to deliver net zero development at significant scale. Production of the modules will commence at our factory facility early in 2022 with first installs on site in spring 2022.” Hope Green will deliver a total of 153 new homes, comprising 138 two, three and four-bedroom houses and 15 two-bedroom apartments. The development will see the first completions in the spring 2022. All homes at the development will be exclusively sold under shared ownership, supporting the government’s key drive for more affordable home ownership. Once complete, Hope Green will include a significant amount of green open space replete with play areas, nature trails, attractive water features, a number of biodiversity areas to encourage local wildlife, and a network of footpaths and cycleways providing commutable connectivity into the town.
The award-winning team at SO Resi has launched an innovative new shared ownership sales agency for external parties, be it other housing associations, local authority housing providers, investment funds or private developers. In the spirit of sharing best practice, the team wants to share their approach to ensure greater access to affordable homes, especially for those looking to buy a home in the current economic climate. SO Resi Agency will offer partners an extensive database of would-be buyers looking for shared ownership homes. Coupled with this, owing to its strong market presence SO Resi has on average 50,000-60,000 visitors to their website every month. The service the team can provide is twofold; from finding buyers to taking customers through to legal completion, utilising their internal processes to help get sales across the line. The agency service will allow users to advertise their property on the SO Resi Agency website and access the teams’ expertise including marketing and sales support. Diana Alam, Head of Sales at Metropolitan Thames Valley Housing, comments: “With lending becoming more challenging at entry level, and an economic backdrop that presents challenges to homebuyers, more and more people are looking to shared ownership as a way to get into the market, or upsize without the risk of taking on a burdensome mortgage. “We have been inundated with people interested in shared ownership, which is why we are excited to be launching a new sales agency dedicated to shared ownership housing. We are looking forward to sharing best practice, but more importantly providing buyers with access to more affordable homes and promoting the many benefits offered by shared ownership.” Over the last six months, Metropolitan Thames Valley Housing has been working closely with ReSI Housing, a for-profit Registered Provider managed by Gresham House, a for-profit fund, and together the partnership has brought forward 138 new homes to the Shared Ownership Market. It hopes to replicate this with other funds, housing associations and local authority providers to share best practice and more choice. Diana Alam adds: “We have already established a number of partnerships through SO Resi Agency, with high levels of reservations recorded for recently launched properties on behalf of our partners. Partnerships are vital in accelerating the delivery of affordable homes across the country, and we hope to continue to work with those in the industry to provide aspirational buyers with the opportunity to own their own home.” To find out more about SO Resi Agency, visit www.soagency.co.uk or call 020 3369 0273.
SO Resi, the shared ownership brand of leading housing association Metropolitan Thames Valley Housing (MTVH), has joined forces with Cambridge University to release the first annual report into the status of shared ownership in England. The findings of the report, by Dr Gemma Burgess, Acting Director of the Cambridge Centre for Housing & Planning Research and a professor at the prestigious university, were released at an industry roundtable on Wednesday 3rd February. The event, chaired by property writer and editor Stacey Meadwell, brought together a panel of experts from the property world – Kush Rawal, Director of Residential Investment at MTVH; Jon Lord, Managing Director at Metro Finance; and Ben Fry, Head of Housing Investment at Gresham House – to discuss the findings with Dr Burgess. The panel heard from Dr Burgess’ report: “Shared ownership providers, lenders and wider industry stakeholders interviewed for this research were all very positive about what shared ownership offers to customers. In many parts of the country, interviewees felt that shared ownership is the only realistic route into home ownership for households with relatively low deposits. The product offers flexibility as it opens home ownership at a range of possible price points to households with modest deposits.” The research, which surveyed 24 housing providers and interviewed industry and user groups, revealed important details about the average shared ownership transaction: Most shared ownership purchasers are aged between 20 and 40 (72%), with the late 20s being the most common time to purchase. Only 5% are over 65. The largest group of shared ownership purchasers are single adults without children (50%) followed by childless couples (35%) 94% are in employment The average value of shared ownership properties purchased in 2018/19 was £265,000, with the average initial share being 42% and a deposit of £24,600 Interest in shared ownership is booming. According to the report: “All interviewees were asked about the impact of the pandemic on the shared ownership sector. The most immediate impact had been an increase in demand for shared ownership lending and in enquiries about buying a shared ownership home. Since 2015/16, the number of shared ownership completions per year has increased from 4,084 to 17,021.” -MORE- 2/…In fact, demand for shared ownership properties is now considerably greater than supply – with up to 10 people enquiring about every home in some areas. The report found that nearly half of the shared ownership homes completed in the last five years were built in London (27%) and the South East (22%), with two-bedroom homes being the most popular size of home sold (58%). The report did voice some concerns, mainly around the Government’s plans to amend the standard shared ownership scheme. At present, the minimum share that can be purchased is 25%, and shared ownership purchasers are responsible for repairs and maintenance. Under the new scheme, the minimum share will be 10%, and housing providers will be responsible for repairs for 10 years, which could affect viability. “Most survey respondents thought that the option of purchasing a 10% share and lack of responsibility for repairs and maintenance for the first ten years in particular will make the new model more attractive to buyers and will increase demand. However, most survey respondents believed that the proposed changes will reduce the supply of shared ownership properties that they are able to build.” With the difficulties around maintenance meaning that providers might be able to provide fewer homes as a result, the report urges the Government: “The unintended consequences of these changes to the product should be carefully considered before changes are implemented.” Another area of concern was public lack of understanding of the scheme, which has existed for more than 50 years, especially with regards to leasehold. Submissions from The Law Commission noted: “Members of the public do not always understand exactly how shared ownership schemes operate, or the precise nature of the legal arrangement which the purchaser of a shared ownership property is entering into.” Kush Rawal, Director of Residential Investment at Metropolitan Thames Valley Housing, comments: “We are pleased that this report – the first of many that we plan to commission – proves the valuable role that shared ownership has in helping people take their first steps on the property ladder. It’s also confirmed what we at SO Resi already knew; that people are often confused and uncertain about what it all involves. For this reason, we are determined to guide people every step of the way, with simple, clear and transparent language that ensures that there are no surprises down the line.” Dr Gemma Burgess, Acting Director Cambridge Centre for Housing and Planning Research at Cambridge University, concludes: “There is consensus that the UK has a housing crisis and that greater effort needs to be made to increase housing supply. Shared ownership has an important role to play in delivering new build housing supply and in meeting the need for affordable homes. The Government should do all it can to make it as easy and simple for providers to increase their pipeline of shared ownership homes, to reduce cost and complexity from the system, and to ensure that grant levels are sufficient to ensure a strong supply of shared ownership going forward.” To find out more about SO Resi call 0208 607 0550 or visit www.soresi.co.uk.
SO Resi, the shared ownership brand of leading housing association Metropolitan Thames Valley Housing (MTVH), will release its first annual report to unveil new research into shared ownership. The research has been undertaken together with Cambridge University and the findings will be discussed during a virtual roundtable on Wednesday 3rd February at 10am. The virtual roundtable will be chaired by property writer and editor Stacey Meadwell, and the panel will consist of Kush Rawal, Director of Residential Investment at MTVH; Dr Gemma Burgess, Professor at Cambridge University; Jon Lord, Managing Director at Metro Finance; and Ben Fry, Head of Housing Investment at Gresham House. The discussion will focus on the key findings from the report, offering an overview of the shared ownership sector in 2020 and covering topics such as a more in depth look at the supply side of the market; management issues such as arrears; responses to the pandemic; and upcoming changes to shared ownership. Attendees will be invited to submit their questions to the panel on the day, and encouraged to give feedback throughout the roundtable in a series of polls. Kush Rawal, Director of Residential Investment at Metropolitan Thames Valley Housing, comments: “Despite the challenges of the pandemic last year, we saw our highest level of interest from customers hoping to use shared ownership in 2020, demonstrating a clear demand from consumers for an affordable route onto the property ladder. Yet there is an obvious gap in the market in terms of accurate, recent data surrounding shared ownership and the issues faced in the sector. “Our inaugural report looks at the shared ownership sector over the past year, allowing both us and external organisations to draw conclusions that will help to improve shared ownership not only for customers, but for lenders and investors. This is the first report in recent history that evaluates data from all perspectives in the industry, which we feel will not only be hugely beneficial to us, but to all affordable housing providers. I am looking forward to discussing the findings of the report with the panel, which will offer a varied insight into shared ownership and contribute to our understanding of the affordable homes sector.” Dr Gemma Burgess, Acting Director Cambridge Centre for Housing and Planning Research at Cambridge University, comments: “This research underpins many existing beliefs within the affordable homes sector, with respondents agreeing that shared ownership is a positive offering for homebuyers and an attractive prospect for investors and lenders. However, there are some concerns highlighted by those who took part in the research surrounding the upcoming changes that the government will introduce this year. The virtual roundtable discussion will bring together different perspectives, reflecting the range of respondents surveyed, and will allow the audience to offer their opinions on the research results.” SO Resi’s virtual roundtable discussion will take place via Zoom on Wednesday 3rd February from 10am-11am. Those interested in attending the roundtable or receiving a copy of the report can register here www.shorturl.at/hknuV or email matt@building-relations.co.uk. To find out more about SO Resi call 0208 607 0550 or visit www.soresi.co.uk.
Despite the country being placed into its second national lockdown last month, SO Resi has reported continued strong demand for shared ownership in November. SO Resi, the shared ownership brand for Metropolitan Thames Valley Housing, saw enquiries soar by 88% when compared to the same month last year. The housing association received more than 6,600 enquiries, and had its highest sales week of the year in the week commencing 23rd November. In addition, the record-breaking month saw SO Resi deliver 59 completions and 70 exchanges, selling out at four developments in Surrey and Berkshire. The housing association has noted a strong demand for its new homes in the commuter belt, with SO Resi Ware, SO Resi Arborfield and SO Resi Forster Oaks proving to be particularly popular with buyers. Kush Rawal, Director of Residential Investment at Metropolitan Thames Valley Housing, comments: “We reported record figures at the end of the first lockdown period earlier this year and we have seen this continue right until December. Despite the country enduring another national lockdown, we have seen a strong demand for shared ownership homes, most notably at our developments in the commuter belt. “The lack of affordable mortgages this year has clearly driven the need shared ownership purchase. Despite the immense and unpredictable changes that have happened around us– from the pandemic that has consumed this year, and with Brexit looming, more than ever, there is an unrelenting desire to invest in a home of their home. Shared ownership is making this happen.” SO Resi has also seen a significant uplift for its SO Resi Plus scheme, with a number of customers recently signing up to take advantage. SO Resi Plus was introduced as a pilot in 2014 and allows buyers to staircase by 1% each year at an agreed, fixed price for 15 years, providing they register for the scheme when purchasing the property. Kush adds: “SO Resi Plus has been transformative for our customers, with four times as many customers staircasing each year via this route than those through traditional share purchases of 10% or more. We decided to offer this to our customers as historically, restricting staircasing to larger shares has been a barrier. Following the Government’s announcement earlier this year, we are pleased that the 1% staircasing option will be available on all shared ownership properties going forward, enabling a greater number of buyers to increase shares in their home should they wish to.” To find out more about SO Resi, call 0208 607 0550 or visit www.sharedownership.co.uk
