Leading housing developer, Orbit Homes, has seen its highest ever monthly sales figures for shared ownership and market sale.
In August 2014, Orbit Homes generated more than £6.3million of sales revenue from 45 shared ownership and market sale homes – its highest sales figures in its five year history.
Of that total, more than £3.6million was generated through the sale of 33 properties for shared ownership, demonstrating a growing market for intermediate housing options. In one week alone the team generated £2million from 16 shared ownership sales.
For the year-to-date, this brings Orbit Homes’ total sales revenue to just under £20.5million with 142 completions.
Orbit Group and the Chartered Institute of Housing are currently conducting a research programme into how shared ownership can be scaled up into a mainstream tenure. A report is due to be published later this year.
Paul High, Executive Director of Orbit Homes, commented: “Orbit Homes is a leader in shared ownership and market sale, and also operates one of the UK’s largest Help to Buy agencies, and this is reflected by the latest sales figures. The profit generated from these sales allows us to deliver our social purpose of building communities and creating more affordable homes.
“There is a clear demand and aspiration for people to get on to the housing ladder, and shared ownership meets this housing need. The work we are doing with CIH and other sector leaders will help to demonstrate this even further.”