SHARED EQUITY HOMES NOW AVAILABLE IN DUNDEE

Shared equity homes now available in Dundee

Declan Barbour Caledonia Housing Association

The opportunity to take the first step onto the property ladder is now open for some homes at a new development on Ballindean Road in Dundee.

Caledonia Housing Association (CHA) is developing the new site which consists of a total of 67 homes with a mix of 43 houses and 24 flats. 49 properties will be available for social rent with the remainder going up for sale.

CHA has announced that 18 homes including 2, 3 and 4-bedrooms properties will be available to reserve from £160,000 to £200,000 as part of the New Supply Shared Equity (NSSE) scheme from 1st June 2023. This allows people to buy a new build home – the purchase is a minimum of 60% of the property, and up to a maximum of 80% – with an interest free loan of 20% to 40% of the value from the Scottish Government.

The £12.7m Ballindean development, constructed by Cullross, is on schedule with the first handover of 12 homes in early of 2024. The rest of the development is due for completion by December 2024.

Andrew Kilpatrick, Director of Assets, Caledonia Housing Association, said: “The release of 18 new homes in Ballindean is a fantastic opportunity for people who are looking to buy a new build home in Dundee. The development is of the highest standard with quality and sustainability at its heart in the community.

“CHA is acutely aware of the challenges that people face in trying to purchase their own home for their family and this has become an even bigger challenge in the last year. We are thrilled to be able to release a quarter of the Ballindean development as shared equity which reduces the financial pressure and enables people to take that step on to the property ladder.”

Mark Beaton, Director of Cullross Ltd, said: “We are pleased with progress at our Ballindean site. The development will provide high-quality, highly efficient new homes. The design was progressed on a fabric first approach with the inclusion of triple glazing. This is then supplemented with solar panels and efficient electric heating systems to minimise running costs. We are delighted to be working with CHA on this project which will make a significant contribution to the housing needs of the area.”

All the homes will come with solar panels, heat pumps and triple glazing and the rented units will also benefit from battery electricity storage.

Anyone interested in finding out more about the Ballindean shared equity scheme should visit https://www.caledoniaha.co.uk for further information.

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