Shared ownership hope for rural buyers in 'crisis'
BROMFORD Homes is backing the call for more affordable home
building in villages and market towns as a new statistical snapshot
highlights the worsening plight of rural first-time buyers and
Their struggle is brought into sharp focus by National Housing
Federation figures − released to mark the start of Rural
Housing Week − that show our countryside has some of the least
affordable places to live in.
Average house prices in rural areas are said by the NHF to be 11
times the average salary, pay rises are lower than average and
there's a serious shortage of local affordable housing. It's a
budget-breaking mix that is pushing many younger people and
families out of their countryside communities because they simply
can't afford to buy or rent a local home.
The rural housing problem is a familiar one for Alan Bradley,
Head of Sales for Bromford Homes, which helped well over 200
lower-income buyers to get onto the property ladder last year and
has just reported a successful first quarter of 2014-15 with
another 27 completions.
"The NHF figures make grim reading for anyone under the age of
40 who wants a home they can call their own in a typical village
like Bugbrooke (pictured above) or market town − and very much
reflects what rural first-time buyers across central England tell
us," says Alan.
"We support the call for a sensible increase in the amount of
affordable home building and share the NHF view that this is the
way to end the rural housing crisis.
"As a shared ownership specialist, Bromford Homes is proud to
play its part in delivering more affordable homes in villages and
market towns − and urban areas, of course. In the first three
months of this year, we've already handed over the keys to buyers
in several rural communities that range from Bugbrooke in Northamptonshire and New
Arley in Warwickshire to Winchcombe (pictured below)
in the Cotswolds.
"The good news for now is that we're already building many more
shared ownership homes − with prices that start from £67,275*
for a three-bed house at Colliers Green (pictured
below) in New Arley, or £90,000** for a two-bed at Mulberry Gardens in the Solihull
village of Meriden − and plan to build many more in the
The rural statistics were launched yesterday (Monday) with NHF chief
executive David Orr saying: "We know how difficult many under-40s
are finding it to afford a home in towns and cities, but it's
becoming impossible for people to put down roots in our villages
and market towns.
"We are not talking about concreting over the countryside. It's
not ruining the countryside to build 10 high-quality, affordable
new homes in our villages and 50 in market towns. That's all it
would take across the land to end the rural housing crisis and help
to solve the country's housing crisis within a generation."
* £61,650 buys a typical 45% share of a three-bed home with a
full market value of £137,000 at Colliers Green, New
Arley. Your minimum deposit would be £3,083 assuming a 95% mortgage
on the share you buy. ** £90,000 buys a 45% share of a two-bed home
with a full market value of £200,000 at Mulberry Gardens,
Meriden. Your minimum deposit would be £4,500 assuming a 95%
mortgage on the share you buy.
01 July 2014