With rising house prices making it increasingly difficult for first-time buyers to step onto the property ladder, and nearly 40 per cent citing high prices as the main barrier preventing them from purchasing a property, Shared Ownership Schemes are providing a life line to many young home owners.
To make such schemes more accessible for consumers, SmartNewHomes.com has added a dedicated section to their website, offering first-time buyers and key workers a way to search for new Housing Association properties in their area.
With demand for homes predicted to continue rising over the next twenty years resulting in further house price increases, it is proving increasingly difficult for first-time buyers to get onto the property ladder.
As a result, shared ownership schemes are becoming an ever more popular way for first time buyers to get onto the property ladder. However, there are still many potential home buyers out there who are eligible for the scheme but are simply not aware of what is on offer. The schemes allow you to buy a share of the property, and pay rent on the rest – making it more affordable.
By promoting these properties on SmartNewHomes.com, buyers will be able to find out about what Housing Associations have to offer, and search for relevant properties within their price range.
David Bexon, managing director of SmartNewHomes.com, commented: “The average price for a new home is currently £258,581, yet 40 per cent of visitors to our site are searching for properties within the £150,000 – 250,000 bracket. This has highlighted a gap that needs to be filled and adding Housing Associations’ properties to our site seemed a natural progression.
“It offers a fantastic opportunity for consumers who are visiting our site to search for a new home that is within their budget. Many buyers are unaware of what Housing Associations have to offer and neglect to consider the concept of shared ownership when considering a purchase.
“Buyers often assume that they would not be eligible for such schemes and do not know where to look for further information. We have created the dedicated section on our site to allow visitors to search for Housing Association properties and obtain further information which they may have not been previously aware of.”
