According to our data, the top postcode for searches for the first 6 months of 2021 for shared ownership homes were in Greater London postcode SW1A. Does this mean that people within Greater London have more knowledge about shared ownership?
Shared Ownership in Greater London
Obviously as London is the capital. We would expect it to be popular with people wanting to live there. However, why else is Shared Ownership popular in London?
Shared Ownership is an affordable way to get on the housing ladder. As living in London is very expensive, shared ownership may be a popular option as in some cases it may be cheaper than renting.
Do people in Greater London have better knowledge of Shared Ownership?
As there is a larger demand for properties in London, people may be looking at alternative ways to get on the property ladder. This does not necessarily mean that they a better knowledge of Shared Ownership. It may just mean that people in Greater London are more aware of Shared Ownership as developments are being built all the time. Shared Ownership schemes may be more readily available in London and so more people have access to them.
Shared Ownership may owe some of it’s popularity to the Mayor of London’s ‘Home’s for Londoners’ search tool. This search tool allows Londoners on low-middle incomes to search for Shared Ownership, London Living Rent and other forms of affordable home ownership.
By pulling together properties from across the capital, the tool makes the process of finding affordable homes much easier.
Does more emphasis need to be placed on Shared Ownership in other areas?
A lot of people may think that because of it’s popularity, Shared ownership was started in London. However, this is not the case.
According to the Birmingham Mail on 17th September 1975, John and Denise Elliott “… made history when they became the first couple to buy half a house – and pay rent on the other half” of a three bed house on the former site of the Kings Norton golf course in Birmingham.
Education on all forms of affordable housing should be emphasised, shared ownership included. You can read our content to see what shared ownership is and how it works.
You can also search for shared ownership properties