Rat and Mouse
Tue
24
Jul
A reader asks... why aren't FTB's signing up for affordable housing in Hammersmith?
If I've read the very good housing strategy PDF for Hammersmith and Fulham correctly (here) only 3,000 people have registered for affordable housing despite the maximum wage [with which you're allowed to apply] being £60,000.

But 50% of residents rent...

The posters for the affordable housing scheme are all over Hammersmith. So why aren't people signing up??

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Comments

Probably because:

1. It's still not really affordable compared to renting.
2. Shared ownership is a complete con, what's the point in owning half a house - you might as well just rent.
3. They can rack up the service charges and rent on the 50% you don't own and there's nothing you can do about it.
4. There is little risk of house prices rising any further from their current already ridiculously elevated levels, so there is no rush to buy, and if you wait a year or so prices might even come down!

Posted by Anon at July 24, 2007 11:14 AM


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