Developer announces affordable homes for East Devon and Exeter by 2026

More than 150 affordable homes planned for East Devon and Exeter by a local housing association are around three years away from development.

The Aster Group has announced it will build 290 affordable homes across Devon, with 102 set for Cranbrook and 61 in Matford, Exeter.

The developer said the new homes  for Cranbrook and Matford are ‘planned for delivery’ by 2026.

Amanda Williams, chief investment officer at Aster Group, said: “We are delighted that we will be able to bring 290 new affordable homes to communities across Devon where they are needed to help address a chronic shortage.

“A proportion of the homes will be available for social and affordable rent and for those keen to get on the housing ladder, there will also be homes available to purchase through the shared ownership scheme.”

The developer said it was set to build the 290 affordable homes after securing nine development deals ‘representing one of its biggest ever single investments in the county’.

The new affordable homes for local people in Devon will be built in areas including:

  • 102 – Cranbrook, Exeter
  • 61 – Matford, Exeter
  • 22 – Swan Park, Dawlish
  • 17 – Mead Park, Bickington
  • 17 – Larkbear Tawcroft in Barnstable.

The nine Devon developments are part of a £62 million investment by the developer across 14 sites, including Gloucestershire, Somerset, Dorset and Hampshire.

Almost 400 affordable, social rent and shared ownership homes will be built.

The developer said shared ownership was an affordable way onto the housing ladder, where buyers purchase a share of a property and pay rent on the remaining part – reducing the size of the initial deposit required.

Further shares in the property can be bought in the future, with the aim of outright ownership.

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