Shared ownership market research
Early in 2010 a research study was conducted into Circle’s shared ownership customers and potential market. Primary research was carried out with current Circle shared owners, as well as prospective purchasers including social renters and aspiring private homeowners. The research has helped provide commercial insight into product and marketing development opportunities of shared ownership and intermediate housing products. You'll find a summary of the highlights below.
A typical shared ownership resident of Circle is:
- female
- early 40s in age
- white, British
- owns 40% of property
- purchased property between 2005 and 2009
- household salary of around £30,000
- no disability
Satisfaction:
- 73% of respondents rated the shared ownership scheme as meeting their housing need, 'to a great extent'
- 88% of individuals stated that they would recommend consideration of shared ownership to a friend or relative
- Over 60% of staircasing respondents had purchased to the full ownership
- Almost 90% of respondents were 'satisfied' or 'very satisfied' with their property
- Almost 80% of residents rated the financial aspects of the product as ‘satisfactory’ or ‘very satisfactory’
- Over 90% of residents stated that the affordability of the product met their expectations 'satisfactorily', 'strongly', or 'very strongly'
Strengths of the Shared Ownership model were typified by feelings of:
- control over personal circumstances that private renting does not deliver
- ability to leverage capital gains whilst risk shared
- being able to access property that would otherwise be out of reach either by size, specification or location.
26/04/10 17:06
Careers
Circle offers great benefits and plenty of opportunity for learning and development. And we're currently recruiting >
Part-buy part-rent properties
Get on the property ladder with stylish part-buy part-rent homes.
Awards
Old Ford Housing Association has won a prestigious national Gold Award for Excellence. Old Ford won the Building Cohesive Communities category of the awards which recognise achievements and excellence in the social housing sector.
