What is affordable housing and am I eligible? Council issues advice as house prices continue to soar

With the cost of living crisis continuing to bite, more people are finding it difficult to rent and buy homes.

Oxford is one of the most unaffordable places for housing in the UK and so the city council is reminding residents of ways they can get on the property ladder.

Social rent

Councillor Linda Smith, cabinet member for housing, Oxford City Council, says the council provides affordable homes at social rent.

In Oxford, this usually means around 40% of the rent a private landlord would charge for the same home.

Affordable rent

Affordable rent in Oxford is based on local housing allowance levels. This means affordable rent in Oxford is 60-65% of the rent a private tenant would pay. 

Buying a home

House prices in Oxford are more than 12 times household earnings, according to Cllr Smith.

The government’s First Homes scheme provides homes for sale to eligible first-time buyers with a 30% discount.

However, Cllr Smith says an initial price cap of £250,000 means very few First Homes can be provided in Oxford.

Cllr Smith says shared ownership is a more flexible option. It allows people to buy a share of a home – between 10% and 75% initially – while paying rent on the rest.

She said: "Our housing company OX Place provides shared ownership homes. Shared ownership makes home ownership a reality for people like key workers, first-time buyers and under-40s who would otherwise be priced out of Oxford."

People are able to get affordable housing if they can't afford to rent or buy housing in the private sector.

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