Are you wondering how popular the Shared Ownership scheme really is? Or who buys a Shared Ownership home? Maybe even what types of properties are available? Well, here’s some statistics which cover 2017, all the way into 2018…
More than 1 in 3 buyers were previously privately renting
Out of all our buyers in the past year, 1 in 3 of them were previously renting – showing that with a bit of hard work (and dedication to saving not spending) it is possible to save money for a house deposit. Other buyers were living with friends and family, or in a different Shared Ownership home.
The average share purchased was 45% of the home
When you buy a Shared Ownership homes, you’ll be expected to maximise what you can afford. This means that if you can afford a 50% share, you will be asked to buy a 50% share. The value of the share you can purchase can start as low as 25% – all the way up to 75%.
Over 60% of the properties sold were houses – not apartments
The perception is that Shared Ownership is only available on small apartments, but here at Radian we’re proving that’s just not true. In fact, 64% of the properties sold were houses – with 54% of these being three and four bedroom homes.
35% of homes sold had three or more bedrooms
Even more proof that the Shared Ownership scheme isn’t limited to starter homes, but is available on family homes too.
1 in 5 buyers were single purchasers
So if you were ever wondering if buying a home on your own is possible, it really is!
Now, if that hasn’t got you excited about the Shared Ownership scheme, we don’t know what will. All you need to do is click here and search for Shared Ownership properties near you.