Eight new affordable Stonewater homes are taking shape in Hook Norton.
The attractive low-cost home ownership and rental properties in Bourne Lane are due for completion at the end of the month and include six two- and three-bedroom houses for shared ownership and two two-bedroom houses for affordable rent.
Jonathan Layzell, Stonewater’s assistant director for development, said: “Soaring house prices and private rents are making it extremely difficult for people on local wages to afford housing in the village and surrounding area.
“We hope that these new Stonewater homes at Bourne Lane will meet this need and enable residents who have grown up in the
vicinity to either get their foot on the property ladder or live in good quality, low-cost rental accommodation close to their families, friends and places of work.”
The new properties are part of a larger development of 20 affordable homes which Stonewater is creating across four phases. The new housing community will help address the shortage of affordable housing for local people in the village and neighbouring Banbury area.
Stonewater is working with Cherwell District Council and regional contractors Taylor Wimpey to deliver the £2.7 million scheme on former agricultural land.
The development will create a mix of 14 two, three- and four-bedroom houses for affordable rent and six two- and three-bedroom houses available for low-cost shared ownership. Each property will have two parking spaces and a back garden
and those for affordable rent will be allocated to local people by the council.
The final phase of homes is due to be handed over in September 2016.
Councillor John Donaldson, Cherwell District Council’s lead member for housing, says: “These twenty affordable homes represent a real opportunity for those with a local connection who are on the council’s housing register.
“Six will be available for shared ownership, with another 14 for rent. Anyone interested in the shared ownership homes can find out more through our Help to Buy website and I wish those who take up residency in this development much future happiness in their new homes.”