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85% of housing associations plan shared ownership development
Eighty-five percent of housing associations plan to build shared ownership properties over the next five years, a report from Savills has revealed.
Shared ownership tenure soars in popularity among housing associationsThe report – The housing sector is changing: are you? – found the shared ownership tenure is soaring in popularity in the sector’s development plans.
The findings were linked to a survey conducted by Savills in association with Social Housing and was completed by 104 chief executives and senior board members of associations.
When asked how many homes in each tenure housing associations aspired to deliver in the next five years, 85% of respondents said they were building shared ownership homes. By comparison, 83% said they were delivering homes for affordable rent.
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Two-thirds also plan to deliver market sale units over that same period, with 37% aiming to deliver units for market rent.
Other major findings in the report were that issues around land were considered by 72% to be in their top three biggest factors preventing their organisations from building more homes.
Survey respondents also called on government to guarantee rent certainty in order to help them deliver new homes – 88% said this was in their top three priorities.
Lucian Cook, head of UK residential research at Savills, said: “[The results suggest] there are funding issues around social rent and what that means is that they need some degree of cross subsidy.
“The means by which housing associations are doing that is by going into the market.”
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