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The Evaluation of Low Cost Initiative for First Time Buyers (LIFT)

DescriptionThis is the final report of an Evaluation of the Low Cost Initiative for First Time Buyers. It evaluates four schemes: Open Market Shared Equity; New Supply Shared Equity; Shared Ownership; and GRO Grants.
ISBN978 0755999316
Official Print Publication DateJanuary 2011
Website Publication DateJanuary 21, 2011

Listen

John Scott, Katy MacMillan and Steven Reid

ISBN 978 0 7559 9931 6 (Web only publication)
ISSN 2045 6964
DPPAS 11150

This document is also available in pdf format (827k)
This report is accompanied by a Research Findings

CONTENTS

EXECUTIVE SUMMARY
1. INTRODUCTION
2. MEETING HOUSEHOLD NEEDS
3. MOBILITY
4. AFFORDABILITY
5. ADDITIONALITY
6. MIXED AND SUSTAINABLE COMMUNITIES
7. VALUE FOR MONEY
8. FINDINGS AND RECOMMENDATIONS

APPENDICES
1. THE OPERATION OF THE FOUR LIFT SCHEMES
2. METHODOLOGY
3. LIFT CHARACTERISTICS
4. ABILITY TO PURCHASE ON OPEN MARKET
5. AVERAGE PURCHASE PRICES BY LOCAL AUTHORITY
6. AVERAGE EQUITY STAKES FOR NSSE AND OMSEP
7. AVERAGE EQUITY SHARE FOR SHARED OWNERSHIP
8. RELATIVE DEPRIVATION OF LIFT SCHEME LOCATIONS
9. MIXED COMMUNITIES CASE STUDIES
10. SUMMARY OF LIFT OUTCOMES

LIST OF TABLES
2.1 HOUSEHOLD COMPOSITION OF LIFT PURCHASERS
2.2 ECONOMIC ACTIVITY OF LIFT PURCHASERS
2.3 PREVIOUS HOUSING CIRCUMSTANCES OF LIFT PURCHASERS
2.4 COMPARISON OF NSSE & OMSEP DISABLED PURCHASER CHARACTERISTICS
2.5 LENGTH OF TIME LIFT PURCHASER PLANS TO STAY IN HOME
3.1 NSSE, OMSEP AND GRO RESALES (EXCLUDING REPOSSESSIONS)
4.1 NSSE AND OMSEP PURCHASES 2005/06 TO 2009/10 - MEAN, MEDIAN AND MIN / MAX PERCENTAGE STAKE PURCHASED
4.2 PERCENTAGE TRANCHE PURCHASED BY SHARING OWNERS - MARCH 2010
4.3 NSSE AND OMSEP PURCHASERS BORROWING ABOVE AFFORDABLE BORROWING LEVEL
5.1 LIFT PURCHASERS MOVING FROM SOCIAL RENTED ACCOMMODATION
5.2 LIFT PURCHASERS ON SOCIAL RENTED HOUSING LIST
5.3 LIFT PURCHASERS LIKELY TO BE OFFERED SOCIAL RENTED HOUSING
6.1 SIMD RANKING OF LOCATION OF LIFT PROPERTIES 2005/06 TO 2009/10
7.1 COMPARISON OF AVERAGE CAPITAL & SUBSIDY COSTS FOR 3 PERSON EQUIVALENT LIFT & SOCIAL RENT SCHEMES 2005/06 TO 2009/10
7.2 RECEIPTS FROM STAIRCASING AND SALES OF NSSE AND OMSEP PROPERTIES 2005/06 TO 2009/10
7.3 RECEIPTS RECEIVED FROM GRO FUNDED PROPERTIES PROVIDED BETWEEN 2005/06 AND 2009/10
7.4 COMPARISON OF LONG TERM SUBSIDY COSTS FOR LIFT SCHEMES
7.5 GRO RESALES IN PROPERTIES PROVIDED BETWEEN 2005/06 AND 2009/10 WHERE THE SCOTTISH GOVERNMENT DOES NOT HOLD A STANDARD SECURITY

The views expressed in this report are those of the researcher and
do not necessarily represent those of the Department or Scottish Ministers.

This report is available on the Scottish Government Social Research website only
www.scotland.gov.uk/socialresearch.