Catalyst: Shared Ownership homes now available in the heart of Oxford
Catalyst champion Shared Ownership in Oxford
Catalyst, Oxford’s largest provider of Shared Ownership homes, are marketing a variety of homes in and around the City of Dreaming Spires, significantly increasing access to the property ladder in the affluent university town.
Topping the Good Growth for Cities Index as the best place to live and work for four years in a row, Oxford’s thriving social and business scenes makes it a natural choice for young professionals. Yet as the third most expensive city in the UK, it is out of reach for many hopeful purchasers looking to get on to the property ladder.
Catalyst’s developments in Oxford include Wolvercote Mill and Spires Place, where homes are now available, and Newman Place launching this winter – providing a range of opportunities to buy through Shared Ownership, the alternative route to property ownership which has helped over 200,000 households become property owners.
Through the government-backed scheme, first time buyers purchase between 25% to 75% of a property’s full market value, paying a mortgage on the purchased share and a reduced rent on the remaining, unowned share. Deposits are 5% of the share price, meaning that hopeful buyers can purchase a three bedroom house for under £7,000 at Spires Place – almost 10% of the average Oxford deposit.
Markus Kendall Young, Head of Sales and Marketing for Catalyst, comments: “Home to one of the world’s leading universities, Oxford is an exceptional place to live. It’s rare to find a location so steeped in history, along with a booming tech industry, excellent independent restaurants and boutiques, and a lively social scene – it really hits the sweet spot for first time buyers. Naturally, this leads to high demand for property in the area, stimulating price growth which can put home ownership out of reach for many buyers looking to step on to the ladder. Through our range of Shared Ownership developments, we are offering a fantastic mix of opportunities to buy a first home in Oxford, so that people can lay permanent roots in the area.”
A mix of Shared Ownership apartments and houses are available north of the city at Wolvercote Mill in the village of Wolvercote and just two miles south in Temple Cowley at Spires Place.
An extension of the popular village of Wolvercote, Wolvercote Mill is a collection of one, two, and three bedroom Shared Ownership apartments, and three bedroom houses. Homes feature high-quality finishes as standard, with integrated kitchen appliances, carpeting, and garden turfing all included in the price. Ticking the box for traditional village living, Wolvercote offers an excellent selection of schools, expansive woodlands, and popular independent pubs, whilst nearby Oxford Parkway station, offers a quick and easy commute into Oxford City Centre.
Spires Place in Temple Cowley offers a route onto the property ladder with a selection of well-designed three bedroom houses. Multi-storey houses provide the space necessary for modern family living with separate kitchen and dining areas on the ground floor and a dedicated living room on the first floor. Thoughtful design touches include integrated kitchens complete with durable Expo grey worktops and modern white bathroom suites with chrome finishes. The village of Temple Cowley is perfect for fans of green living, with a number of parks, outdoor spaces, and cycle routes into Oxford City Centre.
Adding to Catalyst’s Shared Ownership offering in the area, Newman Place is a selection of one to four bedroom houses and apartments launching later this year in the village of Littlemore. Located in a designated conservation area, the village maintains a strong sense of community, centred around lush green spaces.
For convenient weekday commutes or weekend day trips into the countryside, Oxford has fantastic road and rail links. Oxford train station is served by Chiltern Railways and Great Western Railway, connecting residents to London Paddington in less than hour. For family days out, both the Chiltern Hills and the Cotswolds are within easy reach.
At Spires Place, prices start from £127,500 for a 25% share of a three bedroom house (full market value £510,000). At Wolvercote Mill, prices start from £70,000 for a 25% share of a one bedroom apartment (full market value £280,000). Homes at Newman Place will launch this winter. For more information on Catalyst’s Shared Ownership homes available in Oxford, visit catalyst.homes
** Terms and conditions apply. Shared Ownership is subject to qualifying criteria and status. Minimum and maximum share values will apply and rent is payable on the unsold share.
Share to Buy is a one stop shop for affordable homes. On our website, you can search for properties, compare mortgages and find out all you need to know about alternative home buying schemes such as Shared Ownership and Help to Buy via our FAQs and Guides.