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.

Incentives Would Encourage Bedroom Tax Tenants to Pay Up

Incentives such as vouchers for essential items and rent holidays are most likely to be effective in getting bedroom tax-hit tenants to pay rent on time, research published today has found. Viridian Housing commissioned the research on the impact of welfare reforms, including the bedroom tax. The research found that tenants most likely to default on their rent payments were most likely to respond positively to rent holidays as a reward for timely payments, or vouchers to spend on items such as food, as ‘this was felt to give them a goal to work towards’. It also said one-on-one discussions about personal circumstances would be helpful.  Download a copy of the report from the Viridian website.