Number of home owners between 25 to 34 year olds has nearly halved since 1991
"My Hyde New Homes representative was always on hand to answer my questions and had excellent knowledge of the entire process. It was a similar procedure to applying for a mortgage but with the chance to save some money at the end of it."
A new generation of house hunters are finding themselves relying on the rental market and unable to find a home of their own. In 1991, 67% of 25-34 year olds were homeowners, but by the end of 2014 this number had declined to 36% . Unfortunately Daniel Ward, at 22 years of age, found himself on the wrong end of these statistics and struggling to change his situation.
As a Police Officer working irregular hours, Daniel was left with little time for property hunting, but was keen to find his own patch on the streets he helps to keep safe. For Daniel, like most 20-somethings, homeownership is a high priority, but rising house prices made purchasing his first property seem impossible. Daniel was growing increasingly frustrated with the lack of affordable options available to him in an area near to work and friends.
This all changed in April, when the perfect solution was found at Hyde New Homes' development The Coppice in Maidstone. Daniel purchased a two bedroom Shared Ownership apartment at the development. Daniel comments "It was the easiest way for me to get a foot onto the property ladder. My salary alone would have been too stretched to get a private sale mortgage and still have money left to spare for everything else."
Daniel comments "I had looked around at other Shared Ownership developments that just weren't right. However, once I found Hyde New Homes, it was a smooth process. I had a deposit down within a month.
"My main aim was to find a property near work and friends. Now I live closer to work and have time to relax after a long shift" The Coppice offered Daniel the blank canvas he required and the freedom to personalise his home without the constraints of renting, while also meeting eco considerations that keep heating bills down. "After viewing the development I realised how much nicer and cleaner it was compared to many of the other properties I had viewed. New builds have a better style with important things like insulation making a huge difference."
Just like Daniel, other first time buyers are discovering the value of the area to take advantage of all that Maidstone has to offer. Well situated for a number of fantastic local eateries and activities, venues like the nearby Odeon cinema or Hazlitt Arts Centre have entertainment all year round. Maidstone Leisure Centre hosts respected sports clubs and golfers can enjoy themselves at Mote Park Golf Course whilst a full shopping spree is on the cards at the famous Bluewater in Kent or Ashford Outdoor Designer Outlet. With major roads and public transport servicing the development from both of Maidstone's train stations, regular services to the rest of the country mean a weekend getaway is within easy reach.
All properties a The Coppice are now under offer. Please note that original prices started at £116,000 for a 40% share of the full market value of £290,000