High annual maintenance fees, a “discount” that is repayable after 40 years – and may cost more by then – a complicated pricing process and market prices that may not always align with local trends.

Yes, affordable housing schemes may look attractive at first glance, open as they are to those earning above-average incomes, and offering a sale price of as much as 40 per cent off market. However, as the Government ramps up the supply of such homes, putative buyers should be aware of all that the scheme entails before making a purchase.

While there are good points to the developments that continue to come on stream, the affordability aspect may be overstated.

The good

Under its new action plan on housing announced last week, the Government said it will deliver as many as 15,000 affordable homes a year, as it ramps up the role of the Land Development Agency (LDA). This figure includes those supported by the Government’s shared-equity scheme.

It should mean a welcome boost in supply for those looking for a home to buy. With house prices – never mind rents – continuing to reach new heights, the Government is increasingly stepping in to offer people other options to market rates.

The Starter Home Purchase Scheme will see increased affordable housing delivered by local authorities and the LDA.

The scheme is not just for first-time buyers or those who qualify under Home Start.