Research findings on Housing Authority's First Shared Ownership

The Housing Authority carried out research analysis following the launch of the first Shared Ownership initiative. A total of 110 valid applicants have been allotted a unit under this issue. The majority of the beneficiaries that have been allocated a unit are families with children (57.3 per cent).

The units were allocated on a point system. Extra points are allocated for special criteria, the majority of which were allocated for shared accommodation with third parties both for single parents (33.4 per cent) and single persons (29.4 per cent).

Under this particular scheme there were a total of 12 applicants with a disability who have benefited. Apart from this, two youths who had been living in an institute are now able to live more independently since a unit was allocated to them.

Analysis has also been carried out on the housing conditions of the beneficiaries: 21.8 per cent have been sharing accommodation, 24.5 per cent live in a substandard housing environment, 4.5 per cent have been certified; with a dangerous structure while 19 per cent have been living in premises inadequate for habitation. Data was also gathered to create a profile of the beneficiaries. A total of 80 children have indirectly benefited with their parents. The majority of applicants fall under the 18-30 age bracket, followed by those aged between 31 and 45. The average age for families of children and single people applicants is 35, while the average age for engaged couples is 27.

Further analysis has been carried out regarding the economic activity of both males and females. The number of unemployed female applicants is substantially high (45 per cent); 39 per cent of female applicants are single parents out of whom 56.4 per cent are unemployed.

The average income of all applicants was Lm4,611 per annum. A total of 45 applicants (41 per cent) have an annual income not exceeding Lm4, 000, 36 of these applicants (80 per cent) are families with children.

Data was collected on the regions applications came from. The majority of applicants are from the North Harbour Area (24.5 per cent), followed by the central and south eastern areas (23.6 per cent).

Further analysis was carried out on the applicants' choice in buying units under the Shared Ownership Initiative. A number of applicants (21.8 per cent) opted to purchase the whole equity (Choice 3).

The majority of the applicants however opted for Choice 1 (55.5 per cent) purchasing two-thirds of the property, followed by Choice 2 (22.7 per cent) purchased one-third of the equity. Therefore this innovative offer of help for those on a low income has been a success.

Commenting on these findings the chairman of the Housing Authority, Marisa Micallef, said: "This shared ownership initiative has been as successful as anticipated. Our greatest challenge is actually now to try and meet the demand".

The next shared ownership issue will be held in mid-September. The following localities will be available: Birkirkara, Bugibba, Imriehel, Kalkara, Kirkop, Mgarr, Msida, Mtarfa, Naxxar, Pembroke, Qala, Qawra, Qormi, Siggiewi, Tarxien, Victoria, Xewkija, and Zurrieq.