Think owning a house is out of reach? Think again…

Posted By: Ltd

1st Dec 2021

Glynis Hobson explains how you can own a property of up to £175,000 with the help of Co-Ownership on The PropertyPal Podcast

Director of Customer Services at Co-Ownership, Glynis Hobson joined Errol Maxwell, and Jordan Buchanan Managing Director and Chief Economist at PropertyPal, for the latest episode of The PropertyPal Podcast. The not-for-profit organisation has helped over 30,000 people buy their first home since 1978, and with now over 10,000 Co-Owners in Northern Ireland, the organisation makes up for 10% of the First-Time Buyer market.

Effective from now, Co-Ownership has increased their Property Value Limit from £165,000 to £175,000. Speaking on the podcast, Glynis explained: “It’s something that I think is needed because of how the market is at the minute, and we really hope will make a difference to our customers. Especially those living in the Greater Belfast area where it has been tougher to get a house within our price range”.

Praising the news, Jordan, who also sits on the board of Co-Ownership, commented: “Over the last year alone house prices are up nearly 10% or so, new builds haven’t quite had the inflationary pressures feed through in their prices yet, but there have been concerns over the next year. We’ll start to see that feed through with the price of construction materials, labour shortages, which is only going to put upward pressure on prices in the new build sector. So really that moving to £175,000 is going to bring in a greater pool of available property”.

In the full episode, Glynis explains the Co-Ownership journey and how they can help support people who need a bit of help getting on the property ladder.

To listen to the full episode of the podcast, click here: