The Harrogate council properties set to become affordable housing

Harrogate Borough Council have released two new buildings for sale to the public, in the latest installment of the affordable housing shared ownership scheme.

Friday, 30th November 2018, 3:01 pm
Updated Friday, 30th November 2018, 3:05 pm
Harrogate Borough Council has approved the release of two properties for sale

The properties, at 46 Albert Place in Harrogate and Fairfax Mews, Green Hammerton, in York, are both available for the public to buy a 50 per cent share in.

The York property is a brand new development by the council, with a 50 per cent share available for £100,000 and a monthly rent of £230.

The Harrogate property is being offered £81,000 for a 50 per cent share and annual rent of £1,620 on the unsold share.

It’s the latest in a spur of commercial housing development that HBC has been involved in this year.

Cabinet member for housing and safer communities Councillor Mike Chambers said earlier this year that 2018 was the first year that shared ownership homes were being built in number around the district.

“Shared ownership is a Government backed scheme which has been around for many years but only now are we starting to see shared ownership homes being built in our district in any number,” he said.

“There is huge demand for shared ownership housing and now, for the first time in a long time, we are in a position to directly provide affordable homes to first time buyers who live and work locally.”

Shared ownership enables residents to buy between a 25 to 75 per cent share in a home, while paying rent to the council for the outstanding amount. A home can be purchased through shared ownership if the buyer’s household earns £80,000 a year or less, you’re a first-time buyer, a former homeowner who can’t afford to buy now, or an existing shared owner.

Lachlan Leeming , Local Democracy Reporting Service