January content

5 top tips for your kitchen

Whilst the living room is usually considered ‘the heart of any home’ in most UK households, the kitchen plays a much more central role in day-to-day family life. Follow these simple guidelines to achieve kitchen bliss!

 

1. Make the most of your space
Finding suitable storage units to house all of your pots and pans can be tricky - especially if you are working with a particularly small kitchen. Utensils, appliances, and accessories can certainly clutter up your worktops. Either tuck these items away in cabinets or display them in open shelving to add a decorative and homely feel.

If you are renovating your kitchen from scratch, choose cabinets that have pull-out baskets and drawers for maximum storage space. A recent trend for kitchen redesigns is to contrast worktop colours or textures and to change traditional handles for stylised ones. Although this look is popular right now, that may change by next year, and counters can be costly to modify. Finding a balance between trendy and timeless ensures that your kitchen never seems dated.

2. Go bold
Even if you’re not renovating your kitchen, there is no rule to say that you’re stuck with your old counters or the ones that a previous owner left behind. Sand and paint the counters yourself, and save having to buy and fit out a completely new kitchen every time you redecorate.

Whilst patterned tiles can make bold statements, don’t overwhelm your kitchen by tiling it from floor to ceiling. When going for bold, try to keep it simple. That may seem contradictory, but having too many bold prints, colours, or patterns in one room will make your kitchen look messy. Tie your room together with colour gradients and make complex patterns look a little subtler.

3. Lights, candles, atmosphere
Everyone appreciates privacy in their own homes, but rather than choosing to hang heavy curtains, look instead towards using a lighter fabric or blind to highlight any natural light in your kitchen. Likewise, a lighter colour will emphasise the openness of your window whereas a darker material may make the room seem much gloomier.

For the areas of your kitchen where natural light does not reach, put lamps or candles into position for ambience during the evenings. Spotlights or ‘downlights’ attached to the bottom of your cabinets are also an affordable way to improve lighting in your kitchen. These additions will make your room seem bigger, more open, and yet more intimate.

4. Opt for quirky and personal
Don’t be afraid to style your kitchen according to your own specific tastes, no matter how quirky they may be! By all means, consider hiding your knick-knacks when your property is on the market - as this will encourage potential buyers to envision buying your property - but whilst you are living there, live there! Whether you are a minimalist or a hoarder, showcase your treasures and memories for all to see.

5. Plants here, there, and everywhere
Having potted plants or herbs in your kitchen will give the room a healthy and natural look. Plant pots can be bought from a wide range of suppliers and you can even paint these for a different and unique finishing touch.

Your kitchen design ‘musts’ should be; appropriate use of space, maximum lighting options (both natural and artificial!) and suitable storing. Once you get these things right, they require very little attention. Unlike colour scheme and accessories, which can have a very dramatic impact and completely revitalise a room in need of some TLC.

Bank of Mum and Dad

According to analysis produced by the Resolution Foundation, parental wealth has now developed into one of the determining factors whether young people in the United Kingdom own a home or not since the financial crisis – demonstrating the current inequality in the housing market.

 

Although home ownerships rates amongst the 25-34-year-old age group have indeed declined, the recent introduction of schemes such as Help to Buy and shared ownership, as well as the myriad of mortgages now available, have been helping first-time buyers on to the market. Despite this push, Britain’s young people have been dubbed “Generation Rent” due to their decreased likelihood to be able to purchase their own homes when compared to previous generations – they are much more likely to be renting from a private landlord.

The analysis produced by the Resolution Foundation is the first of its kind as it has linked two long-running data sets together in order to attempt to measure the importance of the aptly named “Bank of Mum and Dad”, referring to parents supporting their children on to the property market. The foundation found that those with parental property wealth were 80% more likely to become homeowners than those whose parents did not own their own home.

Stephen Clarke, senior economic analyst at the Resolution Foundation, said: “High house prices and sluggish wage growth have meant that being able to buy a home of their own is almost impossible for many young people without access to the Bank of Mum and Dad.”

Making an interesting comment on how to bridge the gap in inequality, the report stated that the government’s Help to Buy equity loan scheme ‘could be better targeted’ and should additionally consider family wealth.

The report added: “Fundamentally, schemes like HTB are about helping those who are close to being able to afford their own home. In order to improve home ownership prospects for the majority of younger people, more concerted action is needed.”

Getting to know your tenants is key

A recent survey conducted by Upad has revealed that one of the biggest regrets of experienced landlords when they first started off letting a property was not meeting and vetting prospective tenants themselves – with 12% in agreement on this point. Reinforcing this, a further 10% of landlords are in accordance that they initially failed to appreciate the value of tenant referencing checks.

James Davis, founder of Upad and a portfolio landlord himself, commented: “I’ve always promoted the value in getting to meet a prospective tenant face to face and the fact that almost a quarter of the landlords we questioned regret not investing the time in properly doing so, highlights what an important part of letting a property this is.”

Davis goes on to say: “There are many aspects of a prospective tenant’s character that can be confirmed via legal and financial checks, but traits such as punctuality, appearance and willingness to be honest and open, can only really be ascertained via a good old-fashioned face to face conversation. Indeed, our own data has previously demonstrated that over 90% of tenants actually like to get to meet their landlord too so it’s a win-win situation which simply requires a small investment of your time.”

Of course, financial disputes between landlords and tenants also featured highly amongst landlord concerns, with 11% stating that they had misjudged the value of their rental property when they first started out and over a quarter feeling that the best piece of advice that they could give to a new landlord would be to do their sums and ensure they are prepared for unforeseen financial circumstances. Into 2019, nearly a third of those surveyed stated that changes in taxation were their greatest cause for concern.

Davis concludes that “the fact that forging a genuine connection with tenants continues to stand above financial concerns for experienced landlords serves to demonstrate the extent to which investment in the buy to let market remains a long term strategy, rather than simply a quick win.”

Home ownership rates for young families on the rise

After a three-decade long hiatus during which it became even harder for young families to purchase their own property, official statistics from the Resolution Foundation thinktank have shown that ownership rates amongst this group are now on the rise.

According to the thinktank statistics, 190,000 more young families became homeowners over the course of the past two years with the biggest increases observed in Yorkshire and the Humber, Scotland and the North West, where the proportion of young families who are homeowners has risen by between 4.6% and 8.4%. The thinktank calculated the figures from government surveys dating back to 1961.

 

The last 30 years has seen a downward trend in ownership rates among young families, due to a variety of factors, including changes in the property market and fiscal instabilities. During the 1980s, home ownership peaked at 51% in 1989; however, this figure had halved to only 25% by 2016, being the lowest level since at least 1961 (the earliest government survey). By the end of 2018, the downward trend was finally bucked, with rates of home ownership increasing to 28%, with the numbers also trending upwards as we move in to 2019.

Resolution suggested that the changes in trend are down to differences in mortgage offerings over the past two years, with lower-deposit and more flexible offerings now available as well as the availability of larger mortgages. In addition to changes in lending habits, there is the relative slowdown in house price growth and stamp duty relief for first-time buyers, which have also aided those looking to join the property market.

Daniel Tomlinson, a research and policy analyst at Resolution, said: “Recent conditions in the housing market as we move away from the immediate aftermath of the financial crisis are finally helping more young families to buy a home of their own, but the long-term drivers of lower ownership rates are here to stay.”

For many young families, the opportunities now available to them to help them join the property market are now being made the most of, and therefore we are seeing the upward trend in ownership rates. A willingness to be more flexible in terms of their finances, as well as a willingness to move away from the bigger cities and in to more affordable areas are helping this group to purchase a family home, however the Institute for Fiscal Studies commented this year that average house prices had risen around seven times faster than the average income in the last 20 years, showing that property ownership is still no mean feat.

It takes just 8 minutes to decide on a property

As any estate agent can tell you, a successful sale hinges on a good first impression. Prospective buyers possess a sixth sense when it comes to viewing a property and if things aren’t up to scratch – inside and out – you can guarantee they will spot it.

In fact, a recent study has revealed that the average house hunter only needs eight minutes to decide if a property is for them or not and six in ten adults will also choose not to buy a property based on the condition of the exterior of the property, without even needing to view the inside.

In comparison, 18% of buyers admitted to buying the very first property they view and 15% said they decided to buy the property before they had even viewed it in person.

This decisiveness extends online, with the average buyer spending eight minutes deciding whether or not to visit a property – highlighting the importance of a good online advert.

75% also confessed to being irritated upon finding that an advert or online listing does not accurately represent a property when visiting in person.

The study also revealed which aspects of a viewing signalled an early exit for many prospective buyers. The main offender was an obvious damp patch, which 60% of buyers said would put a stop to any future transaction, whilst a house on a main road or cracks in the wall would also put an end to the viewing.

For the buyers who are good at seeking out the problematic finer details of the property, there were some decisive reasons for buyers backing out of the viewing, such as dirty toilet pipes, overflowing bins, wheelie bins left in front of the property and faded or yellowed paintwork.

Some viewers take issue with a sellers lack of preparation for the viewing such as untidy rooms, poor DIY and ashtrays left around the house.

Other reasons included logistical problems such as the size of the rooms being too small for the buyer’s furniture or issues with the natural lighting of the property. The current owner’s furniture cluttering up the layout of a room which preventing the buyer’s imagination from running wild led to over a third of buyers to back out of a purchase.

The list showcases the importance of sprucing up your home, both before putting it on the market and before every viewing. A prospective buyer needs to weigh up the additional costs and work involved in buying a property, so ensure you give your home the most generic makeover possible and organise your possessions and furniture in a way that won’t distract the prospective buyer.

Looking forward to 2019

2018 has been a year of ups and downs in the property market, with the overriding factor being the imminent break from Europe. As we move in to 2019 and March 29th (the official date of Brexit), there remains a certain level of uncertainty in the market, however this should be tempered with cautious optimism when looking at the gains that property could make in the post-Brexit period.

Interest rate uncertainty
Something which is currently subject to extreme uncertainty throughout 2019 is interest rates, with the Bank of England having already increased rates last year for only the second time in over a decade. On the one hand Mark Carney, governor of the Bank of England, has indicated that the Monetary Policy Committee (MPC) will continue to gradually increase the base rate next year. However, Carney has tempered this intended rise in base rates by stipulating that in the event of a disorderly Brexit the MPC would be prepared to similarly cut rates in order to support the economy.

Mark Harris, chief executive of mortgage broker SPF Private Clients, says: “It looks set to be an intriguing year. We expect interest rates to end the year around 1% and mortgage rates will reflect this.”

Competitive mortgage market
During the course of 2018, the competition in the mortgage market has become rife with more offers available and more options to entice buyers into the market than ever before. Looking to 2019, there is no indication that this competition between lenders will subside, making mortgages more accessible to a wider market. Currently, there are 1,459 cashback incentives available on residential mortgages which is nearly two-and-a-half times more on offer than in 2011, according to Moneyfacts.

David Hollingworth, of L&C Mortgages, offered: “This year has been very, very competitive with mortgage lenders pushing hard to attract borrowers. I don’t see a reason why that would change in the new year and it might just be a tighter market with even more intense competition.”

First-time buyers
2018 saw an unprecedented number of first-time buyer transactions in the property market, with numbers reaching an 11-year high. With the news from the Budget that the Help to Buy scheme will be extended a further two years, many potential purchasers should also join the property market in 2019. Often, saving for a deposit is the chief hurdle for those wanting to buy a home, however with the availability of deals for people borrowing 95% of their home’s value soaring to 304 different mortgage options, this hurdle is now being circumvented by the mortgage industry. With more mortgages with lesser deposits available, as well as shared ownerships and purchase schemes offered, we should see first-time buyers once again on the rise throughout the course of the new year.

Remortgaging
With lenders in stiff competition with one another and low interest rates still present, many agree that 2018 has been a good year to remortgage and 2019 will continue to offer favourable conditions for those looking to capitalise.

Rachel Springall, finance expert at Moneyfacts, says: “Throughout 2018 the mortgage market has had to absorb the base rate rise back in August, which has inevitably pushed the average standard variable rate to its highest level in almost ten years. This has meant the incentive to remortgage has probably never been greater.”

Mortgage industry becoming more digitised

Given the increasing digitisation of modern life and our preference to head to the internet to gather advice and information when it comes to making a decision of any size, it’s no surprise that digital tools and services have provided a boost to the mortgage industry. The complexity of gaining a mortgage doesn’t necessarily lend itself to full automation, but lenders and brokers are seeing increasing business as a result of their online presence and the way that they interact with their customers.

A report by the Intermediary Mortgage Lenders Association (IMLA) supports this, which simultaneously suggests that robo-advice models are unlikely to become the norm when it comes to bringing in customers. This is despite 38% of brokers questioned by the IMLA stating that this was the greatest threat to their business going forward.

The Financial Conduct Authority (FCA) and lenders are said to be supportive of the drive to further digitise the market, which should in turn mean that customers will find the process of obtaining a mortgage less time-consuming and less stressful.

The results of this approach are clear; more potential customers are searching for a broker first as opposed to the best deal, with Google searches for ‘mortgage broker’ reaching a 14-year high and increasing 180% over the last five years. Over 70% of customers are sourcing their mortgages through intermediaries, which strengthens the notion that people want to speak to an expert who can explain their options.

Additionally, price comparison sites appear to have had limited success in the industry, in stark contrast to their success and popularity in the world of car insurance. This is down to the limited range of criteria on offer alongside a lack of certainty that customers will fit the criteria for those loans. Robo-advice models are also expected to see limited efficacy, purely due to the complexity of the subject matter and the difficulty in replicating that in an automated service.

“We have already seen a number of digital advancements as the industry seeks out solutions to improve the mortgage and property transaction process. But we’re still some way from seeing a completely automated mortgage market as the technology cannot yet, and may never, fully address all customer needs,” said Kate Davies, executive director of the IMLA.

“Our findings suggest that consumers clearly appreciate the softer skills offered by brokers. And online tools have made it easier for mortgage brokers to advertise their services and to be sought out by local property buyers seeking information and advice. The digital revolution hasn’t yet disrupted the traditional mortgage journey, but it’s certainly making it more effective.”

Property prices in 2019 depend on Brexit

2018 was a year of ups and downs for the property market, with the emergence of some strong growth in the Midlands tempered with a stifled market in the capital city. Despite plenty of challenges, a report for lender ‘The Halifax’ points out that 2018 growth has been within its initial growth forecast for the year and goes on to predict broad stability for house prices in 2019. However, unsurprisingly, it stipulates that this will be dependent on the outcome of Brexit in March.

The report predicts national growth of between 2% and 4% for house prices and goes on to point out that the current shortage of homes for sale will continue to support high prices in 2019, with the result of strong market competition amongst buyers.

“The housing market in 2018 followed a similar trend to recent years. In line with our expectations, house price growth slowed whilst building activity, completed sales and mortgage approvals all remained relatively flat,” said Russell Galley, managing director of the Halifax.

“Looking ahead, aside from the obvious political and economic uncertainty, the biggest issue for the housing market in 2019 will be the degree to which mortgage payment affordability changes. Average pay growth is likely to gather pace but, with a further interest rate increase also predicted, house prices are unlikely to be pushed significantly in either direction,” he pointed out.

As the Halifax report indicates, this year should be a stable year overall for property prices in the face of Brexit. Nevertheless, there will be fluctuations throughout the next 12 months due to this exit from the EU. Property industry experts are forecasting a muted first quarter in particular, due to the build-up to the official withdrawal from the European Union on March 29 as sellers and buyers alike hold fire on their property activities. For sellers, that means hoping for a higher price later in the year and for buyers, a hope for more choice.

“Brexit is already a significant influence in the housing market, particularly in London,” offers Ray Boulger, Senior Mortgage Technical Manager at John Charcol. “So, the key questions are how much is already reflected in prices and whether Brexit is better or worse than expected.”

Charcol continues to reflect upon the wider challenges facing the property marking in 2019, emphasising that “Housing is far from a perfect market as changes in demand can happen quite quickly but changes in supply take longer, especially when looking at overall supply, ie. the number of new homes built. The state of the economy, particularly employment, consumer confidence, the availability of mortgages and interest rates will also influence things.”

For the first quarter of the year, at least, Brexit will continue to dominate headlines and assert its influence upon the property market with many vendors and buyers hesitant to enter into transactions before 29th March. Once the break from the European Union takes place, however, and uncertainty subsides to some extent then global factors affecting interest rates will take precedence in the determining of property values.

With that in mind, it would be a mistake to be too insular when considering the 2019 housing market. As far as property prices are concerned, the report from the Halifax encapsulates the overall forecast – muted, yet growth still being reported despite the plethora of economic and political uncertainties which will dominate the year across all aspects of life.

The Tenants Fee Bill

With the number of renters across the UK higher than ever before and with ever-more tenants forecast to enter the property market over the next decade, the Government is taking steps to ensure that those who cannot afford to purchase their own property receive a fair deal when renting. The introduction of the Tenants Fee Bill, forecast for spring 2019, is intended to increase the clarity around which fees are imposed upon renters – as a group they are collectively set to save millions of pounds thanks to the ban on some fees.

Shelter research shows that on average, private renters in England had to pay &246 in letting agent fees, and families had to pay even more. In the current climate of fiscal uncertainty, this amount of money can cause real difficulties for households – meaning that the proposed Bill could have a real impact upon the quality of life of many.

One of the changes which the Tenants Fee Bill will bring in to effect surrounds the deposits which renters are required to pay; with the introduction of the bill most tenants will pay no more than the equivalent of five weeks’ worth of rent as a deposit. There will also be restrictions upon agent themselves, including when they can charge default fees from renters.

Landlords and agents will only be able to charge default fees specifically to replace lost keys or in the instance of late payments (with a default fee being applied if late rent hasn’t been paid within 14 days of falling due).

Landlords will still be able to claim back costs for damage through the tenancy deposit at the end of tenancy, the Government has announced. A landlord or agent will only be able to recover reasonable incurred costs and must provide evidence of these costs to the tenant before they can impose any charges.

In response to the Tenants Fee Bill, Communities Secretary James Brokenshire said: “The amendments will make renting a home of your own more affordable, fairer and more transparent – enabling tenants to keep more of their cash and stopping unexpected costs…I want to see a housing market that truly works for everyone, and one which provides a better deal for renters.”

What did 2018 mean for the property market?

When we consider the course of 2018, be it in the context of the property market or not, there is one overriding theme: Brexit. The financial uncertainty which has been prevalent throughout the last 12 months has been a key factor in the ups and downs that the property market has seen during the last twelve months. However, despite the perceived gloom, there was still an increase in property transaction levels, showing the resilience of the market.

 

Brexit or bust?
The overarching concern last year was the uncertainty around Britain’s future with Europe, and how that may affect the financial stability of the United Kingdom. Whilst there were some who predicted that the mere discussion of Britain’s exit from Europe would reap disaster in the property market, the reality has been somewhat different. Overall, asking prices across the country rose by an average just over 0.7% during 2018 which shows that, despite the difficult conditions, gains have been reported. In addition to the slight rise in asking prices, there was also an increase in the number of transactions throughout the year.

“Despite the current economic uncertainty, it’s encouraging to see that there is still some increase in transaction levels,” said Oliver Blake, the managing director of Your Move. Investors have similarly maintained their interest and faith in the UK property market with 63% of investors regarding property as a safe and secure investment over the course of 2018, according to a survey conducted by Market Financial Solutions.

Regional disparity
One major movement in the direction of the property market in 2018 was that of the emergence of regions outside of London in terms of property price growth. Traditionally, we have seen prices in the capital city increasing year-on-year; however, in 2018 it was Wales which returned the highest rise in asking prices at 6.2%, followed by the East Midlands at 5.1%. This strong growth in the regions has buoyed the property market in the UK overall, whilst market dormancy in London has offered a stellar opportunity for those looking to buy a home in the capital city.

Rental fundamentals
In the rental market, demand from tenants increased steadily with rental yields also proving resilient through the year. Increased demand in the student lettings market helped to support the rental sector, as well as changing demands from students – such as fast internet and private bathrooms – who are now more prepared than ever to spend high on their accommodation. Knight Frank, the estate agent, says it is currently marketing &1bn of stock in student accommodation and that the demand is ‘ten times’ the supply.

Finance
A key moment in 2018 was the decision from the Bank of England to raise the interest rate from 0.5% to 0.75%, the highest single increase seen since March 2009. This decision was taken as part of a plan from the Bank of England’s Governor, Mark Carney, to steadily increase rates in order to shore up the economy – with expectations of a strengthening economy, solid employment levels and more consumer spending all playing a part in the decision to rise rates. The interest rate rise took place in order to keep the rising cost of living under control, however for borrowers this increase had consequences such as on a &150,000 mortgage an additional &224 in annual cost.

Overall, 2018 has provided some extraordinary headlines for newsmakers who have reported on a regular basis that the impact of Brexit has been irreparable. However, despite pockets of stagnation in the property market and a rise in interest rates, 2018 has remained a stable year in the face of uncertainty.

Looking in to 2019, there remains a level of uncertainty due to the political situation, yet forecasts for the market are expecting stable over spectacular for the year – nevertheless, there are many who are predicting a post-Brexit boom with buyers and sellers rushing to the market once the dreaded March 29th takes place.

Which property type has the best rental yield?

With property renting still booming, and the so-called “generation rent” of 25 to 34-year olds still firmly entrenched in the rental market, it would seem that investing in rental property is still a safe bet for consistent returns. If you are thinking of investing, or diversifying your investment portfolio, which is the best property type to invest in for the best yields?

Recent research from Yieldit shows that three out of the top five highest-yielding properties are houses with three bedrooms or more, producing net yields of up to 11%. This would indicate that properties which can house multiple tenants or larger families make a smart investment choice, as these properties are more frequently freehold rather than the less desirable leasehold, as well as having no service charges. Research from Mortgages for Business also supports this notion of HMOs (Houses in Multiple Occupation) giving the best rental yield with these properties bringing in the highest rental yield in 2016 and 2017 at 8.9%.

Houses as a property type produced average net yields of 6.4%, followed by studios at 5.3 % and apartments at 4.9%. When looking at investment data for apartments, the Yieldit data showed that for rental yields, apartments with fewer bedrooms actually command a higher net yield – the inverse of houses. The data showed that the average one-bedroom apartment produced a yield of 5.4%, compared to 4% for a two-bedroom apartment.

“Deciding on what type of property to invest in is one of the biggest choices a landlord has to make. Houses suitable for families remain a popular choice, and yields can be significantly higher when you remove costs like ground rent, service charge and self-manage – however it's important to note that this type of property might require more work and unexpected maintenance costs could affect annual returns,” says a Yieldit spokesman.

“For those looking to invest in apartments, the data suggests that there is a growing demand for one-bedroom apartments without parking. As environmental issues become more prevalent, we can expect to see tenants opt for more environmentally friendly ways to travel and an unwanted parking space might push up the price for renters.”

Young people and shared ownership

With the wealth of options out there to help people onto the property market, it is no surprise that the number of first-time buyers has steadily been increasing, with numbers currently at an 11-year high. However, outside of the government’s Help to Buy scheme, it seems that young people do not understand their other purchasing options – chiefly that of shared ownership.

What is shared ownership?
Research carried out from YouGov found that although three quarters of people in the UK have indeed heard of ‘shared ownership’, only 40% of 18 to 24-year olds were aware of the scheme. Furthermore, of that 40%, half of them revealed that they had no knowledge of shared ownership whatsoever, other than having heard of the name.

The scheme explained
Aimed mainly at first-time buyers, The Shared ownership scheme is a cross between buying and renting. Essentially, you buy a share of the home – between a quarter and three quarters – and rent the remainder at a reduced rate, with the option to buy a bigger share in the property at a later date. All shared ownership homes in England are offered on a leasehold basis, and the majority are newly built; however, there are some properties which are being re-sold by housing associations. At its core, the scheme is intended to help first-time buyers onto the market, but those who earn a household income (combined) of less than &80,000 or are renting a council/housing association property can also buy through the scheme.

A viable option?
Many of those questioned in the YouGov survey thought that shared ownership meant quite literally sharing the property purchase with friends, family or a partner. When the scheme had been properly explained, almost a quarter of the 18 to 24 year olds stated that they would be “very likely” or “fairly likely” to use the initiative in the future, the highest out of all of the age groups questioned – showing that the scheme appeals directly to the target market, with just the awareness of the scheme limiting participation numbers.

“Shared ownership as a method of purchasing has been around since the 1970s and offers a realistic way of getting onto the property ladder. It’s a proven formula that helps people secure a home, even where a traditional mortgage is not affordable, and its longevity is testament to its success,” said Jaedon Green, director of product and distribution at Leeds Building Society.

“The method is becoming increasingly popular for first time buyers as it reduces the need for a significant deposit, which can be difficult for some to manage. The scheme also permits first time buyers to combine it with a Lifetime ISA, maximising any deposit,” he noted.

Awareness limiting efficacy
The YouGov research has shone a light on the fact that almost a quarter of those aged 24 or under would consider shared ownership as a way to purchase property, once they fully understood what the scheme consisted of. With so many potential buyers being put-off from buying a property simply due to lack of awareness it is clear that the onus is now on educating the wider public, and specifically 18 to 24 year olds, to the benefits of the scheme in order to continue to grow first-time buyer numbers and support the property market as a whole.