Cost of shared ownership resales

Meeting: 
MQT on 2014-09-17
Session date: 
September 17, 2014
Reference: 
2014/3162
Question By: 
Darren Johnson
Organisation: 
City Hall Greens
Asked Of: 
The Mayor

Question

Having spoken with the government's contractors who run CORE, I am advised that it is not possible at present to compare the resale values of shared ownership properties to their original open market value, and to make the equivalent comparison of estimated monthly costs. Will you work with DCLG to ensure that the data collected for CORE is improved to enable this?

Answer

Answer for Cost of shared ownership resales

Answer for Cost of shared ownership resales

Answered By: 
The Mayor

CORE is the responsibility of DCLG and the GLA has no authority over the way the data is collected. The GLA discusses with DCLG bilaterally the way in which housing data is recorded.

Every household purchasing a resale shared ownership property is still required to complete a robust assessment to ensure the household can afford and sustain the home