Hundreds of more people will be able to get a foot on the property ladder after Riverside secured over £15 million to build more than 500 new homes.
We were successful in securing funding from the Homes and Communities Agency’s Shared Ownership and Affordable Homes Programme to give more people the opportunity to have an affordable home of their own.
This funding will allow us to build more than 530 homes, bringing a total of 800 new homes which Riverside plan to build over the next three years throughout England for shared ownership and rent to buy.
The funding news comes as a series of reports by the National Housing Federation this week highlighted the growing gap between house prices and salaries across the country, making it increasingly difficult for people to rent or buy a home.
Mark Patchitt, Riverside’s Director of Development and Growth, said: “We know the gap between salaries and house prices in many regions makes the prospect for people to buy their own home beyond reach. Over the next 3 years we plan to have started building 800 homes across the country to help people on to the property ladder through shared ownership and rent-to-buy initiatives.
“We remain committed to help people fulfil their dream by buying a house of their own.”
The National Housing Federation have released regional reports about the gap in salaries and rising house prices, making buying your own home unaffordable. Visit housing.org.uk/hometruths for more information on the Home Truths 2016/17 report.