Unsold Market Sale Properties At Highest Level In Five Years

Housing associations have reported the highest number of unsold market sale properties in at least five years, the latest quarterly survey from the Regulator of Social Housing has shown. The number of unsold units grew eight per cent over the second quarter (1 July to 30 September 2019) to reach 2,229 – the highest level recorded since the data was first collected in June 2014. The report also showed that undrawn facilities are at a record high, while capitalised repairs spend and investment in housing supply both fell below forecast. Download the report from the Gov UK website.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/848312/Quarterly_Survey_for_Q2_2019-20.pdf

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.