Work starts on 91 new affordable homes for local people in Chipping Norton
Construction has begun on an exciting new development of 91 affordable homes on Burford Road, Chipping Norton.
Leading affordable housing provider Stonewater are working with West Oxfordshire District Council and contractors Bellway Homes to deliver the scheme, which will provide a mix of 25 attractively designed homes for low-cost shared ownership and 66 homes for affordable rent.
The new Stonewater housing will offer a range of different homes from stylish one- and two-bedroom flats to characterful two-, three- and four-bedroom family houses with private gardens and parking.
The Burford Road scheme, which will see the first homes completed in October 2016, is within a short walking distance to Chipping Norton School, the town centre and shopping, leisure, business and transport facilities.
“Employment is no guarantee of being able to pay your housing costs in this part of Oxfordshire where an average home at £312,242 is nearly 11 times the average salary and the average private rent is around £864 a month. These Stonewater low cost shared ownership properties will provide a great opportunity for local young people and families to get a foothold on the property ladder and purchase a home of their own at a price they feel they can comfortably afford,” says Chris Montague, Head of Development for Stonewater.
“Schemes like this one are vital to keeping young people, their families and local businesses and services in the community which are all critical to supporting the local economy and ensuring the town’s long-term health and sustainability,” Chris adds. “We are looking forward to working with West Oxfordshire District Council and Bellway Homes and seeing this exciting new development take shape.”
Buyers of the shared ownership homes will be able to purchase 40 to 70 per cent of the property initially, with the option to own 100 per cent over time. First time buyers living or working in the Chipping Norton area will be given priority on these homes.
“Affordable housing is vital in our communities and this development which will see at least 13 properties completed this financial year is extremely welcome,” says Councillor Warwick Robinson, Cabinet Member for Strategic Planning and Economy at West Oxfordshire District Council. We look forward to welcoming residents who will help ensure continuing economic growth and prosperity in the local area.”
Stonewater has also just started work in partnership with Bellway on the construction of a development of 153 new homes for affordable rent and shared ownership in Banbury, Oxfordshire.