Salford shared ownership homes now all snapped up in just one month

Thanks to Salfordonline for the following story.

This scheme has only happened because of a Labour run council in Salford and a Labour Government. That's why on May 6th in Langworthy Ward vote Labour to continue with investment.

Salford shared ownership homes now all snapped up in just one month
The official launch last month of Fitzwarren Street, Plumlife’s latest development, attracted unprecedented interest from Salford residents keen to get a foot on to the property ladder. Of the eight homes for sale under the government’s shared ownership scheme, all eight have been reserved in just three weeks.
The frenzied atmosphere and swift reservations at the launch was reminiscent of the pre-recession era, where homes were sold effortlessly off-plan in a flurry of excitement.

But perhaps what makes the swift sales targets even more impressive, is that the homes are located in Pendleton, an inner city area of Salford undergoing multi-million pound investment to regenerate the area, led by Salford City Council.

The terraced townhouses are part of a new Great Places Housing Group mixed tenure development of 39 homes for rent and affordable sale to help people get onto the property ladder.

Commenting on the huge interest in the new homes, Plumlife deputy chief executive, Matthew Harrison, said, “We’re delighted with the response to this development. We were cautiously optimistic that the homes would sell reasonably quickly due to the massive demand for decent and affordable family homes in the area. However even we were surprised at the speed of reservations, given both the recession and the challenges of selling in an inner city area, albeit one in the throes of dramatic and exciting regeneration

“This illustrates why, even during this tough economic climate, continuing to invest in government schemes such as shared ownership remains critical. We’ve worked hard to create the kind of homes that are both desirable, and will accommodate a family’s practical needs. The shared ownership scheme gives people the opportunity to commit to a relatively small mortgage and pay rent on the rest. This takes the pressure off them to come up with a huge deposit, one of the main problems facing buyers today.”

Paul Walker, Salford City Council’s strategic director of sustainable regeneration added: “Our vision to create a new Pendleton is all about providing a range of quality and affordable homes for local people and it’s good to see that the first new homes are a success with residents.

“A lot of careful planning with our partners and developers has been put into our plans to regenerate Pendleton and the popularity of these new homes shows that we’re delivering desirable places for people to live.”

The Fitzwarren Street development has given Salford residents a real opportunity to fulfil their home ownership dreams, via the ever popular New Build HomeBuy scheme (aka “shared ownership”. The initiative allows eligible buyers to buy a share of their home – typically from 35%, and pay a low rent on the remainder. Plumlife, part of Great Places Housing Group, is of

Prices start from just £43,750 for a 35% stake in a three bedroom home. The shared ownership scheme also gives home owners the opportunity to ‘staircase’ upwards in the future, offering them the chance to buy the remaining share of the property – either in stages or in a single lump payment.

The show home at Fitzwarren Street will remain open every Saturday between 11am – 4pm with viewing appointments during week days available on request.



Related Links
For more information on Fitzwarren Street, or any of Plumlife’s low cost homeownership packages, please contact Plumlife on 0161 447 5050 or click here