GLA flexible tenure pilot
- New study looking at the relative value of shared ownership versus equity loans for social housing residents
- Affinity Sutton tested a product-blind marketing campaign at its site, The Residences in Coulsdon
- The pilot was designed to separate the product (shared ownership or equity loan) from the property
- There was a clear preference from customers for shared ownership at this development.
Affinity Sutton recently conducted an exclusive pilot with the Greater London Authority (GLA) offering a choice of shared ownership to eligible applicants at their development, The Residences in Coulsdon. This in effect separated the product offering (shared ownership) from the property. The pilot scheme resulted in a clear preference for shared ownership at this development.
The pilot highlighted that customers liked the thought of choice but for many shared ownership was the only affordable choice. For some, the property size or layout was more important than product choice. The pilot also identified drivers of choice and customer motivations in the purchasing process.
It concludes in demonstrating the relative value of the two products to the public purse and lays down the challenge to the industry to achieve a level playing field in the way the two products are treated by Government.
Please note this research was conducted prior to Affinity Sutton merging with Circle Housing to create Clarion Housing Group.