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Long-term changes 'needed to help FTBs'
Changes need to be made to the property market in order to help first-time buyers (FTBs) purchase a home.
Katy John, press officer for affordable house campaign PricedOut.org.uk, stated that "long-term, structural reforms" are required so that more properties can be built for people struggling to get a mortgage for a home they can afford.
She commented that "increasing regulation and taxation on buy-to-let and reforming planning laws" would help encourage the rise in the number of house builds.
While Ms John said FTBs do not currently have much to be positive about, they could put pressure on their councils to build more affordable housing, as this will help them find a place in their price bracket.
Her comments come after Hometrack recently revealed that the number of people buying properties dropped in September for the second consecutive month.
This is despite an increase of 22 per cent in new houses being put on the market in the nine months leading up to September.
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Katy John, press officer for affordable house campaign PricedOut.org.uk, stated that "long-term, structural reforms" are required so that more properties can be built for people struggling to get a mortgage for a home they can afford.
She commented that "increasing regulation and taxation on buy-to-let and reforming planning laws" would help encourage the rise in the number of house builds.
While Ms John said FTBs do not currently have much to be positive about, they could put pressure on their councils to build more affordable housing, as this will help them find a place in their price bracket.
Her comments come after Hometrack recently revealed that the number of people buying properties dropped in September for the second consecutive month.
This is despite an increase of 22 per cent in new houses being put on the market in the nine months leading up to September.
Copyright
Published: 04/10/2011
The information in this article was correct at the time of publication and contains time sensitive data and links, it may not be accurate at the time of reading.