New wave of affordable homes coming soon
WE'RE launching more shared ownership developments to help
meet the strong demand from first-time buyers who are priced out of
the open market.
These latest additions to our homefinder search list will boost
the number of affordable homes on offer by around 20 in total. That
SIX two-bed homes at Beaumont Meadow, Warwick, and
SIX three-beds at The Acorns, Shirley,
Prices will be confirmed in the coming weeks but it's not too soon
to register for updates if you want
to stake a claim on one of these low-deposit opportunities to make
your homebuyer dream come true.
Bromford Homes Head of Sales Alan Bradley says: "We've just
reported a successful start to the year with 66 shared ownership sales in the
first six months - and there's no sign of let-up in demand from
first-time buyers who are looking for an affordable first step onto
the property ladder.
"That's why we're confident that homehunters in Warwickshire,
Solihull and other parts of central England will welcome this
latest wave of high-quality, low-cost new homes - all of them in
"Each week brings another set of statistics that highlight the
true affordability of our shared ownership homes for cash-strapped
homehunters who are frustrated by rising property prices. The
average price paid by first-time buyers now stands at an
eye-watering £209,000. Compare that with the average price paid by
a Bromford shared ownership customer − most of them first-time
buyers. It's just £83,131, or less than 40% of the national
Then compare the latest statistics for typical first-time buyer
deposits, says Alan. The overall average, according to a survey by the
National Housing Federation, is a whopping £30,000 or roughly the
same as a year's pre-tax wages for a typical nurse, firefighter or
The average deposit for a Bromford shared ownership buyer? It
varies quite a lot because some of our homes are built in
high-price property areas like Solihull but, for most of our buyers
across central England, the minimum figure is usually somewhere
between £3,000 and £5,000.
"Builders have already made a good start at all of these new
developments and we'll confirm the prices for each house type as
soon as we can," says Alan. "In the meantime, my advice to buyers
who want a great home in a great location at a great price is to
call us now on 0845 60 10 878 and ask for more
details or check out the online details in our Find A
Home section and register for updates. You really
don't want to miss out."
You can also keep an eye on latest updates by following us on Twitter and Facebook.
06 November 2014