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More seek affordable housing schemes

Tuesday, 2 December 2008 4:07 PM

The market for affordable housing has changed dramatically over the last few years as more people struggle to get on the housing ladder, research shows.

A study from housing association Genesis Homes looking at 2,500 applicants found the market has been broadened to include those on higher incomes and from a variety of professions.

The survey found almost half of applicants looking for homes have a household income of between £20,000 and £30,000 per year, with a further 11 per cent in the £40,000 - £60,000 income bracket.

In addition, more than 24 different job sectors are represented in these 2,500 applications, with 20.4 per cent working in a management or administration, 8.2 per cent in finance and 6.8 per cent in marketing, media and publishing.

Sharon Cummings, deputy director at Genesis Homes, said: "The market for affordable housing has changed enormously over the past five years with more and more people finding themselves unable to buy a home outright.

"We have responded to this by broadening the eligibility criteria for our part-buy/part-rent (New Build HomeBuy) developments.

"Of course, we still have a strong core of key workers applications but many other people can qualify. We have applications from accountants, architects, engineers, journalists, pharmacists and TV producers. We've even had a reptile breeder apply."

Genesis Homes claims in many cases, those with a household income of less than £60,000 and savings of around £3,500 are likely to be eligible.

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