Affordable housing 'won't damage future sales'

31-Mar-2006

Concerns that buying affordable property in a mixed development will damage the future potential of the property's price have been swept away by a new report.

Many people are often concerned that buying affordable housing in a development which includes council property will have a negative impact on property prices within that development.

It is a perennial concern that the presence of the council property will restrict the private property from achieving its price inflation potential, meaning that a first time buyer will not be able to raise the money once in a new home to move up from the first rung of the property ladder.

Aspiring first time buyers considering affordable housing options should work with a good mortgage broker

However, a report from the Joseph Rowntree Foundation has dismissed such a view, arguing that mixed tenure developments are in as much demand as properties in purely private developments.

The research discovered that while nine out of ten homeowners living in mixed tenure developments were satisfied with their home, 77 per cent of homeowners had no problem with the different income of their neighbours.

Aspiring first time buyers worried that their debts, CCJs or poor credit history should consult a good mortgage advisor

Therefore, it appears that buying into affordable housing can prove to be a valuable step onto the first rung of the property ladder which will not have a negative impact on the property's price in the future.

Aspiring first time buyers wanting advice on mortgages, to find out how much they can borrow and how much it will cost, should request advice from the UK’s leading High Street Brokers, Bradford and Bingley

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