Leicestershire housing association Platform Home Ownership has reported a 50% rise in staircasing enquiries, as more shared ownership buyers seek to increase their equity in their homes.
Staircasing allows homeowners to gradually buy additional property shares, reducing rental costs and moving toward full ownership. Platform, which offers shared ownership homes across the county, has seen a 179% increase in total sales in the current financial year compared to the previous one.
Most shared ownership buyers start with a stake of between 10% and 75% of a property’s market value, paying rent on the remaining portion. Deposits for these schemes typically range from 5% to 10% of the share purchased, making entry into homeownership more affordable.
Market conditions influence staircasing costs, with each transaction requiring a valuation by an accredited surveyor. Platform Home Ownership’s Staircasing and Resales Manager, Laura Hathaway, noted that 72% of the association’s customers ultimately staircase to full ownership, while 28% purchase additional shares on an interim basis.
The surge in staircasing enquiries reflects a growing demand for long-term housing security, as buyers look for flexible ways to build equity and manage housing costs.
