We will develop more homes and services for local communities
Growing our shared ownership homes
Over the past year, we have invested in building more shared ownership properties to help our community join the property ladder.
Investing in Shared Ownership developments is an exciting prospect for us as the money generated from property sales can be used to build further homes across the borough.
If we build a home for £200,000 and sell it at a 50% share through shared ownership, we get £100,000 back right away, meaning we have immediate funds we can use to reinvest in future housing.
The current development programme is to build 190 homes by 31st March 2020
How does CCHA find building sites?
We find most of our building sites from developers who approach us directly.
On average, we are approached by approximately three developers per week. We have a strict list of standards that we look for which helps us to select which development sites are a good fit for us and our residents.
Our Finance Manager, Kat Nowak explains how shared ownership helps us build more homes:
“As Shared Ownership property sales result in a quick return on investment, it allows us to reinvest in affordable homes at a faster rate.”