Valyoo takes years off first time buyers

The vital importance of quality affordable homes such as Hastoe Group’s Valyoo, in Stevenage, Hertfordshire, is highlighted by the National Housing Federation (NHF) in a report that shows that the average age of first-time buyers is 40 for men and 47 for women.

Mellissa Toomey, Head of Marketing and Communications at Hastoe Group, comments: "The NHF report shows that schemes like Hastoe’s are fundamental to the housing market, which could seize up if first-time buyers were unable to climb onto the property ladder. The minimum income required for purchasing an apartment at Valyoo under the shared ownership scheme is just £12,000 a year – achievable long before you hit your forties!"

David Orr, Chief Executive of the NHF, believes that more affordable housing is the solution for buyers priced out of the market. "If we don't safeguard the building of affordable homes, then thousands of younger people will be locked out of the home ownership market for decades or added to waiting lists already at record levels," he says.

So developments such as Valyoo are more valuable than ever and look set to underpin the property market in the years to come. Valyoo offers brand new homes with a good specification in a fantastic location, priced from just £35,100 for a 30% share of a one bedroom apartment, based on a full market value of £117,000.

The 19 one- and two- bedroom apartments boast a contemporary specification: kitchens come with black granite-effect work surfaces, a Hotpoint free-standing cooker, a Baumatic extractor hood and black tile-effect vinyl or wood laminate flooring, while bathrooms feature contemporary white Roca sanitary ware, a thermostatic mixer shower, full-height tiling around bath and a heated towel rail.

All apartments come with fitted carpet to all bedrooms and hallway and either carpet or wood laminate to the living area. For added safety, there is a secure video entryphone facility to each apartment while the homes also benefit from whole house ventilation and heat recovery system. Purchasers will also have the benefit of secure allocated off-street parking.

Available through shared ownership buyers can purchase a minimum of 30% of their apartment and pay a subsidised rent on the remaining share. Over time, they may buy more shares in the property until they own it outright.

Valyoo is the only new shared ownership development currently available in Stevenage, where plans to revitalise the town centre include a new department store and a wide selection of high street brands, pedestrianised areas and improved cycle routes. The proposals also include new public spaces and a new bus station, while high-quality leisure facilities will include a new multi-screen cinema, a hotel and an array of cafes and restaurants.

Nearby Stevenage railway station runs mainline services to Cambridge as well as frequent services into London Kings Cross, with its Eurostar connections. Luton and Stanstead airports are 15 and 28 miles away respectively.

For further information on the apartments, visit: stagnellfox.co.uk