Dip in applicants for GHA’s partial ownership properties
REGISTERED applicants for Guernsey Housing Association partial ownership properties fell last year.
In December 2022, 190 people were waiting for a partial ownership home – a decrease from 212 applicants at the same time in 2021.
‘We have seen a slight drop in overall demand over the last 12 months, but to nowhere near the levels of four or five years ago,’ said GHA chief executive Vic Slade, who took over the role in October last year.
‘While there has been a reduction in the waiting list for one-bedroom homes, there has been an increase for two- and three-bedroomed homes.
‘In the last quarter of 2022, the average waiting time for a one-bedroom home was around two-and-a-half years, and for a three-bedroom home it was around five years.’
The GHA has 272 partial ownership homes.
The largest proportion of homes (122) have two bedrooms, followed by one bedroom (89 homes), three bedrooms (56 homes) and five four-bedroom properties.
The registration list has fluctuated over the years, dipping to its lowest level of around 100 applicants in 2017 and 2018, after which it began to climb.
Over the same period, the number of applicants registering for three-bedroom and two-bedroom homes has increased year on year – but the number of people registering for a one-bedroom home has decreased over past 12 months.
The number of re-sales of partial ownership properties increased in 2022 compared to the previous two years.
‘There has been a period of uncertainty for people around mortgage availability, fixed terms and interest rates, and the cost of living, but the increase in re-sales means more opportunities for applicants on the waiting list,’ said Ms Slade.
‘The single biggest reason for re-sales in the last couple of years is partial owners moving into the private sector – again, freeing up opportunities for others.
‘Ultimately until there are enough homes to meet people’s needs at prices they can afford, there will always be a waiting list. Re-sales alone on partial ownership are unlikely to meet demand.’
The GHA continues to work up plans to build more new homes.
