The average age at which people get onto the housing ladder in the UK is now 33 years and 8 months, with rising house prices and the need to save a large deposit being key factors in holding first-time buyers back. According to Halifax, 61% of first-time buyers feel priced out of the market. Of those aged under 35, 61% also admit to feeling daunted by the prospect of buying a home.

At a regional level, the picture is more varied. In the East of England, for example, the average age of first-time buyers stands at 32 years and 9 months. In cities such as Cambridge, the availability of shared ownership homes, where buyers own a share of their home while paying a subsidised rent on the remaining share, is helping more people onto the property ladder. Latimer is leading the way in Cambridge at two new developments through its partnerships with housebuilders Hill and Bellway.

Spacious two-bedroom houses are currently available, offering an exciting opportunity to step onto the property ladder with a mortgage deposit of just £8,415 through shared ownership. One- and two-bedroom apartments will be available at Marleigh in Autumn 2025. With shared ownership, buyers only need to raise a deposit based on the share they're purchasing, not the full market value, making homeownership more accessible than ever. This flexible scheme allows buyers to purchase additional shares in their home as and when their circumstances allow, providing a gradual path to full ownership.

Marleigh is a thriving, family-focused new neighbourhood that boasts 57 acres of beautiful greenspace and a range of amenities, including a community centre, pretty public square, a Co-op, deli and a new nursery and primary school. The homes are all built to the highest modern standards, with imaginative design backed by impressive sustainability credentials. Open plan living/dining areas and plentiful storage cater to contemporary lifestyles, promoting family interaction while supporting clutter-free living. The future-facing houses boast air source heat pumps, underfloor heating to the ground floor, electric vehicle (EV) charging and a range of energy-efficient features. Prices start from £168,300 for a 33% share of a two-bedroom, mid-terrace house.

Shared ownership homes are also available at Springstead Village, Cherry Hinton, where Latimer and Bellway recently won the First Time Buyer Readers' Award 2024 for Best Partnership. The award-winning homes include two- and three-bedroom detached houses, with prices starting from £210,000 for a 35% share of a three-bedroom property. The energy-efficient homes feature EV charging, air source heat pumps and are close to local amenities and transport links, supporting those who want to use greener forms of transport.

Houses at Springstead Village, which is rapidly growing into a thriving new community, feature a wide variety of layouts and spacious turfed gardens, providing plenty of room for families to grow. Each has been finished to a high standard and specification, with integrated appliances, Amtico flooring in kitchens and bathrooms and downlights in kitchens, bathrooms and lounges. The wider development has plenty to offer, with plans for new primary and secondary schools, shops, a health centre and space for community use.

Alex Anzoulatos, Regional Sales Director at Latimer by Clarion Housing Group, comments: “It's not easy to be a first-time buyer in the current market, but shared ownership is helping. It empowers families to get onto the property ladder and access high-quality homes in superb locations, such as those at Marleigh and Springstead Village.”

The popularity of shared ownership continues to grow, with 20,363 properties delivered through the scheme in 2022/23 – an increase of 5% over 2021/22. Government figures show that 77% of sales were to first-time buyers, emphasising the continued and growing importance of shared ownership in supporting families onto the property ladder.  

To find out more about shared ownership with Latimer at Marleigh and Springstead Village, visit:

https://www.latimerhomes.com/new-build-homes/cambridgeshire/cambridge/marleigh

https://www.latimerhomes.com/new-build-homes/cambridgeshire/cambridge/springstead-village

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For press information contact Alice McCutcheon or Gemma Moyle at The Oracle Group

on 020 8394 2821 or email alicemc@oraclepr.co.uk