Construction starts on new affordable homes in Southall to help address substantial waiting list in the borough
London based housing trust Central and Cecil (C&C), part of housing association, Aster Group, has started construction on 41 new affordable homes in Southall, West London. It is hoped the new homes will go a small way towards helping address the substantial number of people waiting for an affordable home on the borough’s housing list.
Located on the High Street, the new homes will be a mix of one, two and three-bedroom flats. All the new homes will be available on an affordable basis, with ten for affordable rent and the remaining 31 for purchase through the shared ownership scheme.
Shared ownership provides an affordable way onto - or back onto - the housing ladder. Buyers purchase a share of a property and pay rent on the remaining share. This reduces the size of the initial deposit required and if they want to, purchasers can buy more shares in their property (known as staircasing), eventually leading to outright home ownership.
Amanda Williams, Chief Investment Officer at Aster, said: “The lack of good quality affordable homes to both rent and buy in London is well documented, with the average house price now over half a million pounds. Against this backdrop, we’ll be delighted to hand over 41 sets of new keys when the homes are ready.
“And with a mix of one to three-bedroom properties, we’re able to cater to a range of people in the local community, from individuals and couples through to families and the older generations too.”
Construction is being delivered by Fairview New Homes - one of two deals that C&C has recently signed with Fairview in London, and the first schemes contracted on since C&C joined Aster.
The homes are due to be ready for occupation in 2027.
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