New shared ownership homes in Bristol were snapped up within a matter of hours after becoming available last week.
Local housing association Merlin successfully sold its six shared ownership homes at its Irving Close development in Staple Hill within a day. And in fact Merlin revealed it had four times as many applications for the new homes than there were properties available.
Sales & Home Ownership Officer Samantha Dore said: “Shared ownership is becoming increasingly popular with first time buyers who are finding that they have been priced out of being able to buy a home outright. Buying a share in a home offers people an opportunity to buy their home at an affordable price.
“We’ve seen similar high demand for our other shared ownership homes and expect this to continue in the future as average house prices are ten times average salaries locally.
We are building a total of 25 homes at Irving Close; the other homes are all rental properties and have already been advertised through South Gloucestershire Council's HomeChoice system. Although still being built the homes will be ready for people to move into in early autumn.