News
Unlocking the property market
Wednesday 14 March 2007
The top price for properties to purchase with Co-Ownership has now increased to £225,000 depending on where you live.
Explaining why the increase is such good news for aspiring local home buyers, Alan Crowe, Chief Executive of Co-Ownership Housing, says:
“We are delighted that the Housing Minister, David Hanson, and the Department for Social Development have given Co-Ownership buyers such a big boost. Thanks to this significant increase in the top purchase price for Co-Ownership, a lot more properties will now be available – allowing us to help many more people onto the property ladder.
“People across Northern Ireland, who were driving past ‘For Sale’ signs knowing the prices were too high for Co-Ownership to help them, can now take new heart in their search for a home. This increase will allow them to get out there and place their bid.”
In an additional boost to potential and existing Co-Ownership home owners, monthly rents have been reduced for the second year running.
Alan Crowe, Chief Executive says: “Our rents have always been held low, that’s how we make home ownership affordable. Taking a typical property price of £180,000, this latest cut means that a purchaser is paying £75 a month less than they would have done for the same property two years ago.”
“The rent reduction will also benefit the 4,000 households who currently own their homes through Co-Ownership.”
“With this cut in monthly payments to Co-Ownership as well as the increase in value limits we are offering a very valuable package to local people who believed they would never get onto the housing ladder”.
First time buyers, returning home buyers, singles, couples, families, self employed – all sorts of people may benefit from Co-Ownership. Anyone hoping to buy a home and wondering what they might afford to go for can contact Co-Ownership Housing direct on freephone 0800 333644 for a confidential, personal assessment.
For a full area breakdown click here.
