Affordable homeownership and risk

Dr Alison Wallace, Dr Julie Rugg and Dr Jiaxin Lui

Funded by abdrn Fair Finance Trust 2021-2022

Project summary

This research examines whether affordable homeownership schemes are more sustainable for lower-income homeowners than buying unassisted on the open market.

Affordable homeownership schemes generally represent a small part of the housing market. However, they are of major policy significance and attract the largest parts of Government housing subsidies. Expanding opportunities for homeownership has been a central tenet of all governments’ housing policies for decades and includes shared ownership, help-to-buy and right-to-buy. These schemes are positioned to facilitate access to homeownership but little attention is afforded to whether, how and in what circumstances the schemes can help sustain homeownership.

The research will identify the extent of affordable homeownership scheme purchasers’ payment, price and disrepair risk in comparison with other low-to-middle income homeowners. It will examine the management of rent and mortgage payments, equity loss and disrepair between right-to-buy owners, shared owners, shared equity purchasers, local authorities, housing associations and lenders; and finally, researchers will examine purchasers’ understanding and experience of homeownership risks.

The work will comprise three main stages: a literature and data review; quantitative secondary data analysis of the English Housing Survey and the Financial Lives Survey; and 100 qualitative in-depth interviews with national stakeholders, housing providers and low-to-middle income homeowners in two contrasting housing markets.

Findings and publications

The final report has been awarded top spot of 'Most Read' of housing related reports in Thinkhouse's 2022 annual review of research, which is appraised by a panel of housing industry stakeholders and academics.  

Downloadable PDF versions of the project's findings are now available

Final Report (PDF , 2,020kb)

Policy briefing (PDF , 764kb)

Submission to the House of Commons Levelling Up and Housing Committee Shared Ownership Inquiry September 2023
Written Evidence Submitted by Dr Alison Wallace, Professor David Cowan and Professor Hellen Carr [SHO 0091]

DHLUC Consultation April 2023 (PDF , 84kb)

Infographics

Browse the infographics highlighting the key findings, click an image to view the full-sized infographics in a gallery