According to Hometrack UK, in large cities like Manchester, house prices are rising by 3.4% annually– a huge increase compared to London’s 0.9% – leaving many city dwellers unable to escape high rents and save enough for a home of their own, with the average buyer requiring a deposit of more than £20,000 to purchase the house they want.
With Forces Help to Buy extended until the end of 2022 and the civilian Help to Buy scheme scheduled to end in March 2023, an alternative scheme must be promoted to help make home ownership a viable option for everyone. Shared ownership helps people find their own permanent home – often much larger or with better outside space than they could have purchased via private sale – without waiting to save huge deposits.
For Service-leavers, shared ownership represents a way of preventing savings or other funds from deteriorating without return. While there is a monthly rent portion to be paid, the rest is being invested in real estate and if you decide to move on you can sell your share at any time.
Putting down roots
Clarion Housing Group, the largest provider of Shared ownership homes in the UK, are already underway with a number of schemes across England which will offer shared ownership options; from city living from London to Manchester, to semi-rural homes from Kent to Cheshire and everything in between. If you’re looking to put down roots, Clarion can provide you with the home you’ve dreamed of at an affordable price with shared ownership, and as a member of the Service community, your application will be prioritised.
Clarion design and build developments to support sustainable communities, offering homes for private sale, shared ownership and affordable rent, in locations people actually want to live in.
By offering such variety, and providing options for more people to buy and put down roots via shared ownership, Clarion is committed to fostering neighbourhoods which will exist for years to come.