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Yet raising the deposit for a mortgage on a percentage of a shared ownership property can still prove incredibly difficult.
"As society changes, new words and terms keep popping up, such as: sauna, private car ownership, property developer, mortgage and personal instalment loan," he notes.
"As society changes," he observes, "new words and terms keep popping up, such as: sauna, private car ownership, property developer, mortgage and personal installment loan.
Housing costs soared: an ex-council flat sold for a record £1.2m and a shared ownership property went on the market for £1m.
Mayfair is always a good address regardless of whether it's a private sector, ex-council or shared ownership property, it's a place people aspire to live in and are proud to say is their home," he said.
In 2015, median household incomes in Newham were just under £29k, yet a two-bedroom intermediate unit required a minimum household income of £48k and a three-bedroom shared ownership property a minimum household income of £73k.
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All shared ownership properties are leasehold.
Last year Moat Homes received more than 11,000 applications for its shared ownership properties.
Sharetobuy.com hosts most shared ownership properties, allowing you to search for ones in your area.
A third of all shared ownership sales are resales, rather than sales of new shared ownership properties.
In March 2015, it said it wanted to deliver 200,000 of these new homes by 2020, alongside 135,000 shared ownership properties.
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