b'3.0 / Market overviewSO Resi by Metropolitan Thames Valley 3.0 // Market overview SO Resi4.0 Future of Shared OnwershipSO Resiby Metropolitan Thames Valley3.0 / Market overviewFuture demands d in Ealing for over 18 years, I have live angesProposed Government chand Diego for 5 years, and we love During the research, participants were asked about the impact of the Covid-19 pandemicto Shared Ownershipand their plans.living herebut property prices are very expensive. By using shared ownership, we The initial impact was a rise in enquiries about shared ownership and the sector seemswere able to purchase a 25% share in a to have bounced back quickly since the first lockdown. Demand exceeds supply in sometwo-bedroom apartment with a deposit of instances by as much as 10 to 1. Lenders too also reported a post lockdown bounce withjust 14,000. Our plan is to staircase and more enquiries than usual.buy an additional 1% share every year for Longer-term there are economic uncertaintiesthe fall-out from the Covid crisis and Brexit.the next 15 years. Shared ownership wasThis may or may not impact demand. Buying a home and moving is expensive which mayan opportunity for us to invest in somethingbe off-putting with such an uncertain outlook but equally the flexibility of shared ownershipof our own, and without it, we wouldnt have and the lower entry point into the market might increase demand. Changes to the availability of low deposit, first-time buyer mortgages are also thought to havebeen able to buy in Ealing. Terry Harvey / SO Resi Ealing residentdriven an increase in demand for shared ownership for those without access to a large deposit. There is concern among those surveyed about arrears as Government support runs out. At the time of the interviews, the furlough scheme was due to end in Autumn 2020 but has since been extended to March 2021.While the research was being undertaken, the Government announced proposals to change the shared ownership model making it accessible to more people including the ability to buy a 10% initial stake. The majority of housing associations surveyed thought the changes would increase demand for shared ownership by making it more attractive.However, it could decrease the number of shared ownership homes they can deliver because of viability. See the Future of Shared ownership p14 for more on the Governments proposals and the impact on the sector.ReferencesGovernment data on house prices: https://www.gov.uk/government/news/uk-house-price-index-for-june-2020Average deposit in London: https://www.which.co.uk/news/2020/02/how-big-a-deposit-do-you-need-to-buy-property-where-you-live/Housing completions https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/875361/House_Building_Release_December_2019.pdf12 / Shared Ownership Market Review 2020In conjunction with Cambridge University Shared Ownership Market Review 2020In conjunction with Cambridge University / 13'