Shared Ownership Buyers 'Increasingly Older And Richer'

Shared ownership homes are increasingly being sold to older and richer tenants.  A major research project has revealed the percentage of buyers aged under 30 has declined sharply in recent years, with the average income of a buyer in London rising by almost £10,000 in 10 years. Shared owners are also giving up on ambitions to staircase up to full ownership – with less than half planning to buy additional shares in their property in the next five years. The findings, revealed in a report commissioned by housing association Viridian, come as the government considers switching housing funds to low-cost homeownership rather than social or affordable rent. Download a copy of the report from the Viridian website.