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Archive

House Prices Rise to Record High

Posted: 26 Apr 2018

Category: General

Hashtags: #First Time Buyer   #New Home   

A closer look at how this impacts first time buyers

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The latest house price index data from Halifax found that the average property price in the UK increased 1.5% in March to £227,871, the highest price ever recorded by the index.  

 

Furthermore, property prices don’t show any sign of slowing down. In the next few months, Halifax expects to see prices grow by 3%, fuelled by the continuing shortage of properties available on the open market.

 

With purchasing a home on the open market continuing to remain unaffordable to many, Shared Ownership remains a fantastic solution for first time buyers looking to take their first step onto the property ladder.

 

Shared Ownership allows first time buyers to own a share of a property, typically 25%, which makes it a more affordable option than buying a home outright.

 

Furthermore, Shared Ownership mortgages typically require a smaller deposit than a regular house purchase. The Shared Ownership scheme also allows home owners to increase their share all the way up to 100%, at a time and pace convenient for them.

 

For more information on purchasing your first home with Shared Ownership, click here

 

Are you looking for a stylish and modern home?

Southern Home Ownership is dedicated to providing stylish, high quality and contemporary new homes for sale on a Shared Ownership basis.

If you're a first-time buyer and interested in owning a Shared Ownership property in London and the South East then click on this link to take a look at our latest developments.