Shared ownership unaffordable

13th January 2017

The Guardian analyses research from consumer body Which? that shows most under-30s in London can't afford the minimum sum required for shared ownership homes. Researchers looked at 525 shared ownership properties within a 20-mile radius of central London last November and found that those buying a minimum share using a 95% mortgage would need to earn at least £37,300 a year - considerably more than the average £27,900 earned by under-30 Londoners. Across the capital, no homes in Zone 1 were affordable for the average person under 30, while 10% were in Zone 2. Zone 4 proved a better option, with 42% affordable.

Source: The Guardian (07/01/2017)