1. Headline figures

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2. Characteristics of Shared Ownership purchases

2.1 Household characteristics

Shared Ownership is a scheme targeted at first-time buyers who cannot afford the full market cost of a property. In 2023-24, of those reported, an estimated 76% of Shared Ownership purchases were made by first time buyers. 32% of Shared Ownership purchases were made by buyers under the age of 30 and a further 33% aged between 30 and 39 ^{[footnote 3]}.

In 2023-24, an estimated 47% of purchases were made by single adult households, a slight decrease compared with 50% of purchases in 2022-23. 27% of purchases were made by households of 2 adults with no children, while 16% were made by households with children. Further historical data is available in Live Table 696. 

Figure 3.1 Household composition of Shared Ownership purchases from 2008-09 to 2023-24

2.2 Financial information

The average market price in 2023-24 was £313,100, up 1% compared with 2022-23, with a mean initial equity stake of £119,700. Overall, the average initial equity stake was 40%. The average deposit was £22,800, a decrease of £400 compared with 2022-23, but remains the third highest value since this was first reported in 2008-09.

The graph below shows that over the last 15 years, the average (mean) market price of Shared Ownership properties has increased from £164,600 to £313,100, an increase of 90%. Between April 2009 and March 2024, the average house price in England increased by 83% ^{[footnote 4]}, showing that the price change of Shared Ownership properties generally tracked above the wider housing market. In this same time period, the average equity percentage obtained by buyers remained relatively steady between 37-43%. Further data can be found in Live Table 697.

Figure 3.2 Average market value and average equity of Shared Ownership purchases 2008-09 to 2023-24

2.3 Property types

In 2023-24, 65% of shared ownership sales were houses, while 33% were flats or maisonettes. The remaining 2% were bungalows, bedsits and other property types, ^{[footnote 5]}.

This profile of property type of shared ownership sales has changed considerably over the years. In 2008-09, 41% of shared ownership sales were houses, while the majority were made up by flats or maisonettes (58%). This profile gradually changed in the following years, and by 2016-17, a majority of shared ownership sales were houses, which has remained true since.

3. Delivery of Low Cost Home Ownership schemes

In the section below, the term “Low Cost Home Ownership schemes” is used as an umbrella term for Shared Ownership and Affordable Home Ownership because before 2014-15 it is not possible to separate Shared Ownership from other Low Cost Home Ownership delivery.

In 2023-24, there were 20,364 new Shared Ownership properties delivered, a decrease of 1% compared with 2022-23, but still the second highest recorded number since Shared Ownership delivery was recorded in 2014-15. Of these 20,364 Shared Ownership properties, 19,935 were new build ^{[footnote 6]}.

The graph below shows how the delivery of Low Cost Home Ownership properties has changed over the course of the last 33 years ^{[footnote 7]}. As can be seen from the chart, since 2015-16 there was a continuous increase in the number of Shared Ownership properties delivered, with the first decrease in 5 years seen in 2020-21. This decrease may be due in part to the restrictions imposed in response to the COVID-19 pandemic.

In 2023-24, delivery of Low Cost Home Ownership properties fell very slightly from the previous year, its highest point since the peak in 2008-09. These values exclude First Homes tenure, which was introduced in 2021-22.

Figure 3.3 Delivery of Low Cost Home Ownership properties 1991-92 to 2023-24, England