Lowfield Green aims to create a strong community of people interested in finding a solution to the problems of traditional housing models.
Our houses are built along One Planet Living principles, meaning that while they’ll meet the needs of the people who live there, they also use resources in a way that our planet can sustain.
And unlike most houses, the homes we’re creating won’t ever be sold on the open market for quick profit. Residents will be shareholding members of the cooperative that owns the houses, paying a deposit and monthly contributions to give them security and equity.
House prices for Lowfield Green are significantly reduced compared to similar-sized properties sold on the open market, resulting in a substantial increase in affordability.
|Market value||YorSpace equity value|
|1 bed flat||£135,000||£91,031|
|2 bed flat||£160,000||£111,678|
|2 bed house||£200,000||£126,693|
|3 bed house||£250,000||£142,647|
|4 bed house||£300,000||£203,648|
|Typical monthly mortgage||YorSpace monthly payment||Average market value||YorSpace total price|
|1 bed flat||£642||£474||£135,000||£91,031|
|2 bed flat||£760||£581||£160,000||£111,678|
|2 bed house||£950||£659||£200,000||£126,693|
|3 bed house||£1,187||£742||£250,000||£142,647|
|4 bed house||£1,400||£1,060||£300,000||£203,648|
All figures provided are estimates and subject to change
Express your interest by becoming a YorSpace member, it costs £2 and allows you to join our housing interest register
One Planet Living is a sustainability framework used to design and shape YorSpace homes. It is different from other sustainability frameworks because:
Mutual Home Ownership (MHO) is a new form of home ownership with affordability at its heart.
People living in MHO properties pay a deposit and make monthly payments under the terms of a long lease. In making payments, they accrue collective ownership of a cooperative society.
Ownership is long-term and secure. If a resident wishes to leave, their lease and occupancy rights are transferred to a new incoming member, and their accrued equity in the society is returned to them.
By dealing in equity shares rather than ownership, the property is held outside of the market, and the affordability created is recycled from one generation of occupants to the next.
The model creates a new way of owning equity in the value of residential property. Although relatively new, the model is tried and tested.