Demonstrating the demand for Shared Ownership in Oxfordshire, over 85% of homes released in the first two phases at Newman Place are now reserved.
A new development by Catalyst, delivering 162 one to four bedroom homes in Littlemore, the Shared Ownership homes have proven particularly popular amongst families; seven of the eight four-bedroom houses released in January were reserved within a fortnight.
An increasingly expensive place to buy, Oxford was announced as the second most unaffordable city in the UK in 2021*, with property prices growing 5% in 2021 alone.**
Shared Ownership offers an alternative route on to the property ladder, lowering some of the financial barriers associated with buying a first home. Through Shared Ownership, purchasers buy a percentage share of their home, typically between 25-75%, and pay rent on the remaining portion. Buyers only require a deposit and mortgage for the share they are buying, helping those with lower savings and incomes to get on to the property ladder. As and when they can afford to, buyers can purchase greater shares in their home until they own their home outright, through a process called ‘staircasing’.
Designed to connect residents with the natural environment, Newman Place is a landscape-led development. Gently curving roads mirror Littlemore Brook, a waterway that meanders alongside the development, whilst a new walkway for residents and the wider community provides a footpath along the tributary.
Steve Pickering, Head of Sales and Marketing (Counties) at Catalyst, comments: “The opportunity to purchase a home in a design-led development like this, in as affluent an area as Oxford, is increasingly difficult for first-time buyers. That’s why it’s so important we offer homes through schemes like Shared Ownership, so that buyers can still access high quality housing in this area. Three and four-bedroom houses are particularly rare through Shared Ownership, so it’s no surprise they have been reserved quickly, alongside the one and two bedroom apartments which have drawn interest from young professionals.”
Each property features an open-plan living area, private outdoor space in the form of a balcony or garden, and high specification finishes as standard. Symphony Inline kitchens feature fully integrated appliances, whilst bathrooms include contemporary white sanitaryware and chrome accessories. Houses are spread across three-storeys, offering ample space for the whole family to enjoy, and the opportunity to convert one of the bedrooms into a home office space.
Residents have fantastic facilities on the doorstep, as well as buzzing Oxford city centre a 10 minute drive away. Littlemore’s range of amenities including a nursery, range of supermarkets and parade of shops, all within walking distance. Heyford Meadow Nature Reserve is 1 mile away, providing a picturesque walking spot along the River Thames, whilst closer green spaces include Littlemore Park.
Catalyst is currently marketing a range of one- and two-bedroom apartments priced from £71,250 for a 25% share (FMV: £285,000).
Two- and three-bedroom houses are due to launch soon.
For more information, visit: catalyst.homes