Bromford has completed a multi-million pound housing development offering an affordable way to get on the property ladder.
The housing provider, which owns thousands of homes across Shropshire and the West Midlands, has completed its latest development in Dawley, Telford. The Stables, on Pool Hill Road, has been built following a £1.8m investment and comprises of 14 brand new shared ownership homes – seven two bedroom and seven three bedroom.
The homes, situated on the northern edge of the Ironbridge Gorge, have been built by Bromford’s in-house construction team following a 10-month project. Bromford said its shared ownership programme is proving increasingly popular as people look to buy a share of a new home while paying the remainder in rent. Over the coming 12 months, sales in shared ownership homes are predicted to rise by 60% as a growing number of people struggle to afford the cost of a typical mortgage.
Plans were announced in April to increase the size of Bromford's housebuilding programme over the next five years from 3,380 homes to 5,311 homes to help tackle the UK’s housing shortage.
Penny Downing, director of sales and marketing, said: “Telford is a vibrant town which is enjoying huge investment at the moment. These stylish homes will be a welcome addition to the local area and offer single people, couples and families the exciting opportunity to own their own home without large deposits and high monthly private rental costs.
“Buying a home on the open market is becoming increasingly difficult for people, and shared ownership is proving to be a really popular way of owning your own home while getting your foot on the property ladder.”