Marc Da Silva brings you news from the affordable new homes market across the UK with the latest headlines on housing schemes in Essex, Yorkshire, Oxford, Greater Manchester, Bristol and Norfolk.
Single savers face waiting 30 years to save for a deposit large enough to buy a residential property in London or 14 years nationally, according to a report commissioned by the homeless charity Shelter which was published yesterday (Wednesday).
Many would-be first-time buyers are being priced out of buying property due to rising prices, fuelled by low interest rates and state-subsidised lending.
As one of the safest places to invest in property worldwide, London is often misconceived as being too pricey for anyone other than oligarchs, investment bankers and CEOs. There can be no doubt there is a London bubble which has withstood the credit crunch and the market continues to thrive, however there are also a wide range of regeneration areas across the city. Local councils are working with developers in many of these boroughs to attract people to live and are offering different housing options and making affordable homes a priority.
Renfrewshire and East Renfrewshire have a lot to offer residents making them ideal locations for a wide variety of house-hunters. Excellent transport links and the proximity to Glasgow mean the area is convenient for commuters, while an abundance of leisure facilities and educational establishments, including the University of the West of Scotland, make it popular with young people and families.
Housing association Sanctuary Housing has secured planning permission from planners at Torbay Council to construct 82 new affordable homes in Paignton as part of a wider £9m scheme.
The new family homes will be developed on Southview Road, Smallcombe Road and Langridge Road as soon as the existing derelict Cornish houses are bulldozed, with building work due to get underway within the next few days.