Recent research published by the Tony Blair Institute for Global Change revealed that the average house in the UK costs around nine times the average annual earnings – which is its highest since the Victorian era. With house prices so high, homebuying schemes such as Shared Ownership are helping to make it easier to get onto the property ladder. To help demonstrate the high quality of homes available with the scheme, SO Resi has just launched a brand-new sales and marketing unit at its SO Resi Canning Town development in Newham, E16.
Offering a range of one, two and three-bedroom apartments, homes at SO Resi Canning Town all come complete with integrated Koncept kitchens and integrated Zanussi appliances. Additionally, homes at the development all have access to an abundance of on-site amenities – from a 24-hour concierge service, a wellness studio, lounge, co-working area, and a private podium garden. SO Resi Canning Town is launching its first show unit on the 12th of October, where visitors can view an example apartment for the first time and meet with the dedicated Shared Ownership team to find out more about the scheme.
Shared Ownership, a decades old government-backed scheme, offers buyers lower deposit requirements and the flexibility of gradually increasing their ownership of the property over time. Buyers looking to purchase through Shared Ownership can secure a share of a property at SO Resi Canning Town (ranging from 25% to 75% of its market value) whilst benefitting from below-market rent on the portion of the property that they did not purchase.
Kevin Sims, Director at SO Resi commented: “Having already seen great success at SO Resi Canning Town, which has received over 900 enquiries since launching, I believe the launch of our first show unit will be an invaluable resource for prospective buyers who are looking to get onto the property ladder. Purchasing through the Shared Ownership scheme opens the door for home ownership, helping to make it a more attainable goal for the next generation of buyers.
“This is a real opportunity to purchase a Zone Two apartment with deposits at a fraction of the price of the open market. SO Resi Canning Town is set in a dynamic neighbourhood that also features excellent transport links and a wealth of amenities. I urge those interested in buying at SO Resi Canning Town to act quickly to be in with a chance of securing a home at this development.”
Canning Town is a thriving area of London with excellent transport links. Canning Town Station serves both the DLR and Jubilee Line, reaching Canary Wharf within five minutes and London Bridge within 10 minutes. Canning Town is also in striking distance of London City Airport for locations further afield. Canning Town also boasts a diverse range of restaurants, cafes and grocery options, excellent for adventurous foodies looking to find a new home.  

SO Resi Canning Town is a collection of 37 one, two and three-bedroom apartments. Prices start from £96,125 for a 25% share in a one-bedroom apartment [full market value: £384,500]. To find out more, visit www.sharedownership.co.uk.