England, Wales, Scotland & Northern Ireland
Housing Market
CANTERBURY RIVERSIDE FROM HYDE NEW HOMES TO HELP BUYERS ONTO THE HOUSING LADDER
Expanding urban populations and the UK’s much-documented housing shortage mean that stepping onto the housing ladder can be a major challenge for first-time buyers, particularly for those seeking well-located city centre homes. Canterbury in Kent is a case in point. The population grew by 4.1% in the decade to 2021, while sold property prices have risen by 7% over the past year (Rightmove, July 2023 data).
This is why shared ownership schemes such as Canterbury Riverside from Hyde New Homes have such an important role to play in making city living affordable and accessible. Located just 5-minute-walk from Canterbury city centre, the mixed-use development is home to 113 shared ownership homes providing the ideal first step onto the property ladder for those who have previously been renting, while second-time buyers and empty nesters will also be well served by the development.
Canterbury is known for its stunning and historically important cathedral, it’s pretty riverside setting and its bustling, highly educated community. The popular university city outperforms the national median when it comes to its employment rate, three-year business survival rate and percentage of employees in the knowledge economy. While these factors combine to make Canterbury city centre living attractive, they also serve to increase competition for well-located homes – hence the city’s rising prices.
The Hyde homes at Canterbury Riverside seek to alleviate this. The shared ownership homes comprise seven three-bedroom houses, 25 one-bedroom apartments, 69 two-bedroom apartments and 12 three-bedroom apartments, catering to a wide range of buyers’ needs. They are positioned next to The River Stour, close to Canterbury West station and form part of The Riverside, a £115 million mixed-use development at the centre of Canterbury’s new leisure quarter. Residents here will be living in a vibrant, new pedestrianised neighbourhood with a wealth of cafés, bars and restaurants and five-screen Curzon cinema.
Minnie Dando, Head of Marketing & Communications at Hyde New Homes, comments: “The spacious, contemporary homes at Canterbury Riverside mean that buyers can afford a brand-new home in a great location without compromising on quality. Canterbury is a beautiful and historic city with a vibrant local community and buzzing cultural life. The new shared ownership homes at Canterbury Riverside will ensure that buyers don’t need eye-watering deposits in order to be part of the city’s future. Buying a brand new, well-built home also means that minimal expenditure on maintenance is needed. As we know that buying a home can seem like a daunting process, our expert inhouse team are available to support our buyers through every step of the journey and following the move into their new home”
Buyers of shared ownership homes only need a deposit based on the value of the share they are initially purchasing. They can then increase their share of ownership as and when their individual circumstances allow. The first homes to launch at Canterbury Riverside are the seven three-bedroom/two-bathroom houses, where buyers can purchase a 30% share for £145,500 (based on an overall sale price of £485,000). This means saving for a minimum deposit of £14,550. A subsidised rent is payable to Hyde for the portion of the equity that still belongs to Hyde and residents can opt to purchase more shares and even own their home outright at any time convenient to them; a process known as staircasing.
Each house comes with contemporary interiors including a fully fitted kitchen with integrated appliances, built-in wardrobes in the main bedroom, Karndean wood effect flooring downstairs and fitted carpets to all bedrooms and stairs at no extra cost. Every feature-packed house comes with a garden finished with patio and turf, rooftop solar panels, allocated parking and an electric car charging point.
There is also an external bicycle shed to each property, with bikes providing a fast and eco-friendly way to access local attractions and amenities. Canterbury Cathedral and Kingsmead Leisure Centre are both three minutes away by bike, while Whitefriars Shopping Centre is five minutes away. Canterbury West and Canterbury East stations are both a six-minute cycle ride away, while the University of Kent can be reached on two wheels in 14 minutes.
Local schools are easy to reach from Canterbury Riverside as well. There are several excellent schools in both the public and private sectors, including Junior and Senior King’s, Kent College, St Edmund's and the Simon Langton Girls’ and Boys’ Grammar Schools. As well as the University of Kent, Canterbury is also home to Christchurch University, making it a key centre for higher education in the South East.
As well as delivering plenty of local history, culture and entertainment, Canterbury provides easy access to London, with the M25 less than an hour’s drive away, and into Europe via the Port of Dover, which is just a 30-minute drive from Canterbury. A number of pretty Kent coastal towns, such as Whitstable, Deal and Herne Bay, are also within easy driving distance. Train access to the capital is also easy, with Javelin high-speed services taking 55 minutes from Canterbury West to London St Pancras. From there, travellers can catch trains direct to Paris, Brussels, Lille, Amsterdam, Rotterdam and Calais, as well as a range of domestic destinations.
Launching in March 2024, prices at Canterbury Riverside start from £145,500 for a 30% share of a
3-bedroom house.
To visit our marketing suite, view our fully dressed show home or for more information, please visit www.hydenewhomes.co.uk/riverside-square or contact Hyde New Homes on info@hydenewhomes.co.uk or 0345 606 1221.
* Internal images shown are indicative.
