New shared ownership homes in Stalybridge help locals onto the property ladder
26/02/2023
Eight local families are celebrating getting their foot on the property ladder, after moving into new shared ownership homes in Stalybridge.
Our high quality, energy efficient, four-bedroom houses at the Grassmoor development have transformed a former brownfield site to make home ownership possible for more people.
They are the latest properties from Fabric Living, our shared ownership and sales brand.
Shared ownership is a scheme that enables people to buy part of their property with a low deposit and pay rent on the part that they don’t own. Owners then have the option to carry on buying shares in their home if they wish, ‘staircasing’ until they own 100% of it.
The £2.4m Grassmoor scheme is part of our ambitious plan to build 1,100 new affordable properties in Oldham, Rochdale, Tameside, Kirklees and Calderdale between 2020 and 2026 to help meet increasing demand.
We are one of Tameside Council’s strategic housing partners and have worked with Greater Manchester housebuilder, KMM Homes to bring forward the development.
The build was finished in autumn 2022 and the properties attracted enquiries from more than 405 people interested in making one their home.
The final sale completed in earlier this month - and homeowner Jay says she can’t wait to move in with her family:
“I’ve been living just round the corner from here and have watched the development go up. When I found out there were homes for shared ownership, I came along to see and knew they were what I was looking for.
“With house prices so high, I wouldn’t be able to afford to buy a three-bedroom house for my family on my own, but by going with shared ownership I’ve been able to secure a four-bedroom home that’s great for our needs now, in an area that we love and it means I own 50% of something rather than nothing at all.”
Joel Owen, our Director of Development said: “These great new homes are part of our continued investment in creating new high quality, sustainable properties in Greater Manchester and West Yorkshire to help meet housing need and improve the lives of local people.
“Demand for affordable housing in Tameside outstrips supply and high prices mean many local buyers struggle to secure a place of their own. We are building developments like this one and offering a range of tenures to help people to get a foot on the housing ladder at an affordable price. I hope Jay and the other homeowners are very happy here at Grassmoor.”
Kevin Murphy, Director at KMM Group said: “We are proud to be working alongside First Choice Homes Oldham, delivering much needed affordable homes. We look forward to continuing our partnership, to provide good quality contemporary homes.”
The new properties in Stalybridge are among our latest affordable, new-build homes.
To help us keep up momentum on supply of new properties, we currently have 326 houses and apartments under construction across 13 development sites in Oldham, Rochdale and Kirklees and we are on track to complete 137 homes for shared ownership and affordable rent in the financial year ending March 2023.
