Housing Options Affordable New Homes Show
August 3, 2007
Londoners currently priced out of the capital’s booming housing market are invited to the Housing Options Affordable New Homes Show:
The New Connaught Rooms, 61 – 65 Great Queen Street, Covent Garden
12 - 8pm on Friday 12 October 2007.
You can also print off this information 
Housing Options New Homes Show Invite (147 KB).
Buying a home is a bleak prospect for many working Londoners and first time buyers. According to the Land Registry, the average house price in the capital for June 2007 was £338,950. London HomeBuy Agents Metropolitan Home Ownership (MHO) and Tower Homes estimate that house prices in the city are now more than 12 times the average London income, making it one of the most unaffordable areas in which to live.
However, MHO and Tower Homes have organised the Affordable New Homes Show event, which will bring together over 25 London housing associations and other providers of affordable homes in London under one roof. With a single visit, thousands of Londoners and those wanting to live or work in the capital will be able to find out what affordable housing options are available in each borough – and receive the professional advice needed when buying a home.
Steve Nunn, Managing Director at Tower Homes, said: “The Housing Options New Homes Show is a fantastic opportunity for working Londoners to find out more about the many affordable home ownership opportunities in the capital. As property prices increase and mortgage interest rates rise more and more people are priced out of buying their first home. Here you can find out what housing associations and other developers have to offer.”
Bernie Conroy, MHO Assistant Director, said: “Astronomical property prices mean London is one of the most expensive cities in the world. Fortunately, the Housing Options Affordable New Homes Show will give Londoners a one-stop opportunity to shop for a home they can afford.
“Key workers keen to save for their future home, but unable to buy right now, can also find out about Intermediate Rent and affordable resale homes available from London housing associations.”
Independent financial advisers, solicitors and housing professionals will be on hand to provide information on Government subsidies, which enable Londoners who earn a household income of less than £52,500 (£60,000 for key workers or public sector tenants) to either buy a brand new home through housing associations or to access financial support through the Government’s HomeBuy products to buy a home on the open market.
In recent years, affordable home ownership has been targeted at key workers such as teachers, nurses and emergency services staff, but this event is open to anyone looking to buy a home they can afford in the capital.
For further information about the show visit Housing Options. People unable to attend the show can access information on all affordable home ownership opportunities available in London by visiting Housing Options the website or by calling 0845 2308099.
The Housing Options Affordable New Homes Show is one of a number of events planned to help key workers and other workers on low or moderate incomes to find out more through the Housing Options service.