92% of HousingOptions show attendees want to buy an affordable home now

February 10

Over 4,000 Londoners attended the HousingOptions London Affordable New Homes Show held in Westminster on Saturday 6th February, demonstrating the clear demand for affordable home ownership in London.

A survey taken at the show revealed that 92% attended because they wanted to buy an affordable home. 35% of attendees believed part buy, part rent is the only way for them to get onto the property ladder. This huge response shows just how many people want to enter into affordable home ownership and are actively looking for homes to buy now.

HousingOptions held the show so that Londoners could meet affordable housing providers and find out more about how they can buy or rent in the city. Anyone living or working in London, and earning between £15,000 and £60,000 is eligible for help buying their first home. Solicitors and financial advisors were also on hand to offer free advice.

HousingOptions is London’s free one-stop service to help people find government funded affordable homes to rent or buy. All customers have to apply to, and be approved by HousingOptions to be able to access affordable homes in London.

The survey taken at the show revealed that:

• 92% attended because they want to buy an affordable home now
• 8% attended because they want to rent affordably
• 35% said they wanted to buy or rent intermediately because it was their ONLY option for getting onto the property ladder
• 36% of attendees have considered moving out of London in order to get onto the property ladder
• 40% of attendees had over £10,000 in savings towards a deposit. 16% had savings over £20,000.

Graeme Moran, Managing Director at MHO, said: “More and more people are realising there are affordable and attractive alternatives to buying their first home on the open market. HousingOptions has seen unprecedented levels of interest over the last year both online and at our events and we expect this to continue as property prices in London remain out of reach for people on low or moderate incomes.”

Nic Bealey, L&Q Director of Strategy, Marketing & Sales, said: “This year’s show was a fantastic success and a great chance for Londoners to find out about affordable home ownership opportunities in the capital. We had record numbers of Londoners register for the show demonstrating a clear demand for affordable homes in London. We must continue to work closely with our partners to ensure we meet this need to ensure Londoners stay in the capital and can make it onto the property ladder.”

The Mayor of London Boris Johnson said: "Affordable home ownership schemes are a fantastic way for Londoners on more modest incomes to get on the housing ladder and help keep this city thriving. We're investing over a £1bn a year in a whole range of affordable homes so there are now more properties to choose from than ever before in great locations across the capital."