TWENTY-TWO affordable homes built in Northleach have come at the right time after the news that the Cotswolds is one of the hardest places in Britain for first-time-buyers to get on the ladder.


Former sheltered housing scheme Fortey House, in Fortey Road, has been turned into a range of two and three-bedroom houses, complete with Cotswold stone, fitted kitchens and two parking spaces per property.


Northleach residents will be able to benefit from Bromford’s ‘Help to Buy’ 20 per cent equity loan, which means they only need a five per cent deposit – or £8,212 – to get on the ladder at the new Woodlands development.


The parish council welcomed the development, with a spokesman saying: “We’re so happy that we’re finally getting affordable housing in its [Fortey House] place as it has stood empty for some time.”


This is good news for first-time buyers after recent research by the National Housing Federation (NHF) revealed the Cotswolds to be the most difficult place in the South West to be a first time buyer.


A poll of more than 2,300 British young people conducted by YouGov for the NHF revealed nearly nine in 10 (87 per cent) 18-34 year olds think it is difficult for their generation to get on the housing ladder in Britain.


Alan Bradley, head of sales at Bromford Homes, said: “I had a sense of déjà vu when I read the latest research from the NHF.


“With over a third of house prices here being 10 times the average wages for first time buyers, taking the lowest average annual income of £10,387 and the lowest average house price at £197,500, this equates to a staggering affordability ratio of 19 times that salary.


“The NHF highlights that the current generation of aspiring first time buyers are considerably worse off than their parents were when it comes to their chances of being able to buy a home.


“Average first-time buyers today need a £30,000 deposit, almost ten times the deposit required in the early 1980’s in real terms.”


For more information of Northleach’s new Woodlands development go to bromfordhomes.co.uk or call 0845 6010878 or 07850 918938.