How it works
Newport City Council works with Registered Social Landlords (Housing Associations) and private developers to create affordable homes, below market value, for those in housing need in Newport.
We aim to help create stable, mixed communities by the development of quality housing for people wanting a home but priced out of buying or renting a property on the open market.
The council advertises available properties via the Home Options Newport publication which includes the following types of low cost home ownership:
- Rent to buy – you can rent your home from one of the partner Housing Associations initially, but buy it in the future.
- Part buy – also called shared ownership, you buy a share of a property and pay rent to a Housing Association for the remaining share.
- Buy now with Shared Equity – you can buy 100% of a property and only pay up to 50% of the value. One of the partner Housing Associations retains an interest in the property for the remainder of the value, which can also be bought at a later date or repaid upon sale of your home.
- Buy now – you can purchase a property now but can switch to renting it in the future if your circumstances change.
Why develop an affordable housing scheme?
Like many parts of the country, Newport has experienced significant house price increases.
Although prices have fallen from the peak reached in 2008, the current average property price in Newport is £166,976, around 6 times the average income. This has made purchasing a property on the open market unaffordable for many first time buyers.
One of the council’s aims outlined in the Community Strategy 2005 - 2015 is to provide quality housing at a reasonable price, in order to accommodate social and demographic change and population growth.
The council has worked hard with partners to offer affordable ways to acquire a new home.
There’s no catch!
The affordable housing scheme offers a range of homes in various locations across the city, part of larger developments built by national house builders.
View current and future developments available via low cost home ownership.
The homes have to meet rigorous quality standards set out by the Welsh Government so you can be assured of a quality home at an affordable price.
How do I apply?
You can register and submit an application for affordable housing at www.homeoptionsnewport.co.uk (opens a new website).
If you don’t have internet access at home use your local library, community centre, partner housing association office or the Information Station.
The housing options page has further information on how to apply.
Housing Needs Unit
Tel: (01633) 656656