Rising demand for shared ownership sees enquiries surge for new builds

Posted on Friday, February 23, 2024

Just Mortgages' new build division has reported a bumper start to the year, with new build leads and enquiries up 40%.

Just Mortgages has seen a month-on-month increase in enquiries across its new build division. In fact, in the first full week of the year, lead numbers were as much as 60 percent higher than its weekly average – a trend which has continued throughout January and into February.

The team has attributed the surge in enquiries to rising demand for the shared ownership scheme, as well as increasing efforts among developers to make accommodations to support purchasers. The biggest demand for shared ownership has been seen in the areas most impacted by the loss of Help to Buy, particularly in and around London.

Paul Wilson, head of new build at Just Mortgages, said: “Despite the challenges in the market, it is hugely encouraging to see increasing demand for new build. There’s no question that home ownership is still a clear aspiration for many and we must do all we can to nurture and support this. It’s been fantastic to see a real proactive approach among our developer partners, who remain keen to support deals and create opportunities to get properties sold.

“A big driver has also been shared ownership, which gathers more momentum with every week. While a slightly different proposition, it is certainly filling the gap left by Help to Buy and is supporting a growing number of people in making that step onto the property ladder.”

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