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Outside some new "luxury" flats I've been keeping tabs on down my road has appeared a big sign from a housing association and some text about shared ownership.

These flats were advertised about 3 months ago at 230k :lol: .

They have looked empty ever since, no lights on in evening in hardly any of the flats....pretty much empty flats. I've been waiting for their new advert to come out with a lower price, but there hasn't been one.

Now do you think the developers have become very desparate and sold them off to a housing association?

or is that not how these things work?

Edited by CrashBear

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Outside some new "luxury" flats I've been keeping tabs on down my road has appeared a big sign from a housing association and some text about shared ownership.

These flats were advertised about 3 months ago at 230k :lol: .

They have looked empty ever since, no lights on in evening in hardly any of the flats....pretty much empty flats. I've been waiting for their new advert to come out with a lower price, but there hasn't been one.

Now do you think the developers have become very desparate and sold them off to a housing association?

or is that not how these things work?

Round here a small development that won't sell, suddenly had 8 out of 9 sold! Turns out HA has bought them. Not sure who they are going to buy the last one to, the plot is tiny they are all on and 8 sets of chavs around you :P

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Sorry to be so uninformed about housing associations but can you guys give me a brief low down on them?

Basically they are like council houses, but run by a for profit company, on behalf of councils. You have to be on benefits/single mum/drug user/layabout etc to get them.

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Basically they are like council houses, but run by a for profit company, on behalf of councils. You have to be on benefits/single mum/drug user/layabout etc to get them.

I think there is a really big scandal hiding between the interaction of housing associations and building developers. They use public money to buy/bail out developments at or above market price. Can you imagine the persuasion/kick back tactics?

This then translates into housing on their books that no sane key worker would buy! The term 'affordable housing' is a joke. Have you seen some of the deals? You couldn't afford most of them on a private wage let alone a public one.

For example:-

http://www.tvha.co.uk/residents/sharedowne...-homes.cfm#park

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Basically they are like council houses, but run by a for profit company, on behalf of councils. You have to be on benefits/single mum/drug user/layabout etc to get them.

cheers, thought that was the case!

very interesting! You'd be absolutely gutted if you had bought one of the flats for 230k then found out a housing association had bought the block next door!

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Sorry to be so uninformed about housing associations but can you guys give me a brief low down on them?

Its a shared ownership scheme - you own half (or a percentage) and the H.A. ownes the rest and you pay rent on that percentage. In order to get one you have to be approved by the H.A. It's presented as some sort of low-cost housing solution, and there is plenty of demand - they seem to sell like hot cakes, but the reality is that there is no negotiation on price as they seem so greatful to be offered their chance to get their foot on the ladder...

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I have been reading this forum for quite some time as myself and my partner are also unable to afford to buy a property. What really makes me sick though is the attitude of people on here to those of us in Housing Association or Council properties. Myslef and my partner are not "on benefits/single mum/drug user/layabout"

In fact we are both graduates with professional jobs I also have a post graduate qualification perhaps you should change your attitude to those of us who rent in the social sector as we are noot all "Chavs".

Well at least I can console myself with the fact that my rent is not going into the pocket of some greedy private

landlord and that I can afford to maintain a decent quality of life because of my "affordable" rent. i would have thought more socially responsble landlords and affordable rented properties were only to be encouraged so that more people had access to this resource as circumstances dictated.

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I have been reading this forum for quite some time as myself and my partner are also unable to afford to buy a property. What really makes me sick though is the attitude of people on here to those of us in Housing Association or Council properties. Myslef and my partner are not "on benefits/single mum/drug user/layabout"

In fact we are both graduates with professional jobs I also have a post graduate qualification perhaps you should change your attitude to those of us who rent in the social sector as we are noot all "Chavs".

Well at least I can console myself with the fact that my rent is not going into the pocket of some greedy private

landlord and that I can afford to maintain a decent quality of life because of my "affordable" rent. i would have thought more socially responsble landlords and affordable rented properties were only to be encouraged so that more people had access to this resource as circumstances dictated.

I bet you paid the full asking price - didn't you?

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Apologies BB - I thought you's bought one of these shared ownership rip-offs.

I wouldnt touch shared ownership with a barge pole in fact our association has offered us some of these but our rent is a much better deal as a flat in our area would cost around £350000.

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Pun intended?

Housing associations provide affordable rented homes they are supposed to be non profit making organizations. The rent is considerably cheaper than market rent but as with council homes they arent enough of them for all those who cant afford to buy. I have to agree with r thritis that the shared ownership schemes they run are a rip-off.

Edited by bigben

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I have been reading this forum for quite some time as myself and my partner are also unable to afford to buy a property. What really makes me sick though is the attitude of people on here to those of us in Housing Association or Council properties. Myslef and my partner are not "on benefits/single mum/drug user/layabout"

In fact we are both graduates with professional jobs I also have a post graduate qualification perhaps you should change your attitude to those of us who rent in the social sector as we are noot all "Chavs".

Well at least I can console myself with the fact that my rent is not going into the pocket of some greedy private

landlord and that I can afford to maintain a decent quality of life because of my "affordable" rent. i would have thought more socially responsble landlords and affordable rented properties were only to be encouraged so that more people had access to this resource as circumstances dictated.

I fully agree with this.

I rent in the 'social sector' with my partner. We both work and have decent jobs. My neighbours (also in social housing) consist of a retired builder/a teacher/a retired police officer/a builder/a nurse & builder/a nurse & office worker/a builder & shopworker/self employed/IT worker/bus driver/2 x taxi drivers etc etc

Not exactly "benefits/single mum/drug user/layabout"

I don't know where people on this forum get the impression that a) social housing is only for the socially disfunctional and B) that only "benefits/single mum/drug user/layabout" can get social housing.

There are many good, honest working people living in social housing.

Social housing is not 'free' as I have heard mention on this forum...tenants pay rent like everyone else.

There is no 'special treatment' given to any social group. Housing is offered on housing need.

Anyone can apply for social housing - if you don't then it's your choice but I wish people who have chosen not to apply for social housing would stop moaning about those who have.

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I fully agree with this.

I rent in the 'social sector' with my partner. We both work and have decent jobs. My neighbours (also in social housing) consist of a retired builder/a teacher/a retired police officer/a builder/a nurse & builder/a nurse & office worker/a builder & shopworker/self employed/IT worker/bus driver/2 x taxi drivers etc etc

Not exactly "benefits/single mum/drug user/layabout"

I don't know where people on this forum get the impression that a) social housing is only for the socially disfunctional and B) that only "benefits/single mum/drug user/layabout" can get social housing.

There are many good, honest working people living in social housing.

Social housing is not 'free' as I have heard mention on this forum...tenants pay rent like everyone else.

There is no 'special treatment' given to any social group. Housing is offered on housing need.

Anyone can apply for social housing - if you don't then it's your choice but I wish people who have chosen not to apply for social housing would stop moaning about those who have.

Thanks for the support Im glad that someone else has responded who lives in social housing as people here seem to have a strange idea of what type of person lives in social housing. I would think on a forum where people were discussing being priced out of housing these views wouldnt exist.

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Thanks for the support Im glad that someone else has responded who lives in social housing as people here seem to have a strange idea of what type of person lives in social housing. I would think on a forum where people were discussing being priced out of housing these views wouldnt exist.

You can't really generalise. There are a wide range of views expressed on this forum, some of which are pretty odious. That's the price of free speech.

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I have been reading this forum for quite some time as myself and my partner are also unable to afford to buy a property. What really makes me sick though is the attitude of people on here to those of us in Housing Association or Council properties. Myslef and my partner are not "on benefits/single mum/drug user/layabout"

In fact we are both graduates with professional jobs I also have a post graduate qualification perhaps you should change your attitude to those of us who rent in the social sector as we are noot all "Chavs".

Well at least I can console myself with the fact that my rent is not going into the pocket of some greedy private

landlord and that I can afford to maintain a decent quality of life because of my "affordable" rent. i would have thought more socially responsble landlords and affordable rented properties were only to be encouraged so that more people had access to this resource as circumstances dictated.

If you have dual graduate professional incomes, how did you manage to get a housing association house, and what is your rent? This is a direct straightforward question, not a rhetorical one.

Billy Shears

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i think some of you do not have the full facts on HA.

Here is a good example of the sort of deal offered

50% Share of a £300,000 house so you mortgage £150,000 minus any deposit

You pay rent on the other half including buildings insurance and any communal maintenance @ £220 pcm

Now you do the maths & tell me how you are worse off on this deal than on the full mortgage?

I would say this is a good option for everyday run of the mill professional key workers.

How do HA's get property & do they overpay?

well any new developement in major connurbations like London in excess of a threshold number of properties have to make 25% i beleive of properties available to HA's at a discount (usually as part of the permission granted to develop the land in the 1st place - as this is gov policy) the Developer actually turns his profit on the private sales (so they in-effect subsidise to an extent the affordable HA properties.)

again you tell me that HA homes are not a good idea?

imagine if you have a 50% share & property prices fall, you can pick the other 50% up at a reduced rate so you are in effect operating a hedge on house prices collapsing.

Overall, I would argue the converse to many others on this thread

;)

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Thanks for the support Im glad that someone else has responded who lives in social housing as people here seem to have a strange idea of what type of person lives in social housing. I would think on a forum where people were discussing being priced out of housing these views wouldnt exist.

What are your neighbours like?

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If you have dual graduate professional incomes, how did you manage to get a housing association house, and what is your rent? This is a direct straightforward question, not a rhetorical one.

Billy Shears

Well being in a Housing Association doesnt stop anyone becoming a professional.

Myself and my partner rented from a housing co-op in Chelsea when were students our fellow tenants were from Kings College. The co-op rented flats that were classed as unfit to students until they were redeveloped so we lived just off Kings Road in Chelsea for £65 a week. We decorated the flat etc we lived there whilst I was doing post grad. When the flats were due to be redeveloped of course we had to move out as I was just starting my freelance career we had no money so we went to a housing advice unit and as we were being evicted due to the redevelopment of the flats we lived in they actually got us a new Housing Association flat in Pimlico without having to go on any council list. Since then we have both worked hard at our careers.

you ask how much rent we pay we pay just under £400 a month and have underground parking with security gates in a block of 8.

We have looked at shared ownership but similar flats to ours are £350000 to £400000 and with rent and mortgage wed have to eat hair or grass at the end of the month so we will stay here. (Even dual graduate income wouldnt buy alot round here)

(Also some Housing Associations offer intermediate renting to those who wouldnt ortherwise get a housing association or council property

With affordable renting, also known as intermediate renting, properties will be available for you to rent at 70-80% of the current market rate. Tenancies will initially be for 6 months.

There will normally also be a service charge to cover items such as buildings insurance, management and cleaning of communal areas.)

What are your neighbours like?

one neighbour is a photo journalist there is a retired couple who used to live in Mayfair but went bankrupt. There is a couple who work long hours in catering etc

Edited by bigben

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Basically they are like council houses, but run by a for profit company, on behalf of councils. You have to be on benefits/single mum/drug user/layabout etc to get them.

They are actually NOT-for-profit companies and they offer social rents (more than council but still affordable and do a good upkeep of the properties). I won't even bother to defend the tenants since a lot of people have already done so here.

Needless to say, I think they are in for a rude shock with the part ownership scheme when prices start falling.

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You have to say though that the housing market is screwed is all those people in careers listed have to live in social housing. taxi drivers, teachers police officers etc....

Why dont they just build more houses.

Houses should be like a car park - operated at 95% capacity..who cares if there are a few houses that are empty sometimes...obviously with peaks and troughs there will always be houses that are sometimes empty but it seems that for the last 7 years there hasnt been enough houses.

There is certainly plenty of land and definately enough people to build more houses!

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They are actually NOT-for-profit companies and they offer social rents (more than council but still affordable and do a good upkeep of the properties). I won't even bother to defend the tenants since a lot of people have already done so here.

Needless to say, I think they are in for a rude shock with the part ownership scheme when prices start falling.

These seem to be doing ok out of it:

LONDON (ShareCast) - Social housing and maintenance specialist Enterprise raised profits by a fifth last year and expects further progress in 2006.

Revenues rose by 24% to £528m from £427m with pre-tax profits up by 20% to £33.7m. The order book now stands at around £2bn, the company added.

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You have to say though that the housing market is screwed is all those people in careers listed have to live in social housing. taxi drivers, teachers police officers etc....

Why dont they just build more houses.

Houses should be like a car park - operated at 95% capacity..who cares if there are a few houses that are empty sometimes...obviously with peaks and troughs there will always be houses that are sometimes empty but it seems that for the last 7 years there hasnt been enough houses.

There is certainly plenty of land and definately enough people to build more houses!

You have actually hit on what is considered to be a healthy void level in rental accommodation. Although, I have to say I reckon its higher and its just that their are all these BTL landlords who are sitting out void periods because if they take less money it affects the value of the property. Note banks used to expect a 125% cover on the morgage from the property. That means that if they were paying 5% interest they would need to make a yeild of about 7%. That was before they ran out of borrowers...

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