With interest in the Midlands growing, shared ownership could help first time buyers to navigate a national increase in market activity and a rising demand in the property market, says Kevin Sims, Director of SO Resi
Major employers HSBC, Deloitte and Goldman Sachs are turning their attention to the Midlands following recent investment in Birmingham, the UK’s second-largest city.
With the HS2 rail line set to connect the Midlands to London, this region is fast growing in popularity with first time buyers who are looking for a more attractive alternative to London and the Home Counties. The benefit of this renewed focus is being felt in a number of urban centres around the area, including Leicester, Coventry, Nottingham and Peterborough, which are seeing new development and regeneration projects.¹
As we get into the swing of 2025, there is a general sense of renewed optimism for the UK’s property market. Lower than expected inflation and governmental focus on economic growth in January has seen an increase in housing market activity.² Coupled with this will no doubt be an increase to the already high demand for new homes.
This poses a challenge for those looking to get on to the property ladder; as competition for accessible housing options increases, first time buyers face another barrier. While there are some brilliant schemes aiming to tackle the demand for housing in the capital, first time buyers outside of London and the Home Counties deserve to have access to more options too. Luckily, SO Resi is bringing new shared ownership homes to the Midlands.
For those unfamiliar with shared ownership, the product has been supporting homeownership since it was first launched in the 1980s. In a nutshell, shared ownership allows buyers to purchase a share of a new home between the value of 10% to 75%, rather than paying for the property at its full market price.
Buyers then pay a monthly below market rate rent on the share of the property that they do not own, with the opportunity to “staircase” – a process that enables buyers to purchase more shares in their home at a pace that suits them, and their wallets.
If you are a first time buyer looking to start your homebuying journey this spring, why not speak to the shared ownership experts? SO Resi is creating new shared ownership homes across the Midlands and Cambridgeshire, including our newest developments, on the right.
Get in touch with us to find out more or book a viewing via sharedownership.co.uk
1 glbpropertyservices.com/the-midlands-property-market-outlook-for-2025-a-great-time-to-invest
2 savills.com/research_articles/255800/372318-0
SO Flexi Clay Cross
Prices TBC
SO Flexi Bestwood
Prices TBC
SO Flexi Fairham
Prices TBC.
For more information visit soresi.co.uk/soflexi
First Time Buyer is an exciting bi-monthly glossy which takes a stylish and comprehensive look at all the options available, setting them out in an entertaining and informative way, and helping potential customers navigate their way through what is often a daunting and complex process. We dispel the myths, reinforce the facts and arm the reader with the tools necessary to make their homeownership dreams a reality.
