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.
