Help to Buy 'Makes Shared Ownership Uncompetitive In North'

Providers are not offering shared ownership properties in low-value areas of the north of England, because it is ‘impossible’ to make it competitive against Help to Buy. Housing associations said they have struggled to sell units of the part-rent, part-buy product where values are low because eligible buyers can afford to own outright. According to statistics from the HCA, 2,800 shared ownership homes are unsold nationwide, with 968 unsold for the six months to the end of December, a slight increase on the 947 for the six months to the end of June 2015. Nationwide, more than 18,500 shared ownership completions are expected in the next 18 months. Read more on Inside Housing.