Sign up to our Editors Choice newsletter now! Click here

Majority of councillors agree first time buyers cannot afford to buy

Accessibility Menu

Menu Search

24dash - The UK's most up-to-date social housing and public sector news website

Majority of councillors agree first time buyers cannot afford to buy


Published by Anonymous for in Local Government and also in Housing

Homeowners 'struggling' to meet monthly mortgage payments Homeowners 'struggling' to meet monthly mortgage payments

A remarkable 86% of London's councillors do not believe that first time buyers are able to afford a home in the wards their represent.

A YouGov poll, which quizzed 201 elected representatives from all parties, found that nearly three quarters of Conservative councillors (74%) and 94% of Labour members believe that FTBs would not be able to buy a home in their ward.

And only 2% of the councillors surveyed feel that FTBs would definitely be able to purchase a property in their area.

The poll, which was commissioned by property communications specialists Quatro, also revealed that councillors have doubts over the government’s help to buy scheme - designed to make it more affordable for FTBs to get on to the housing ladder.

Though 30% believe the scheme, which offers FTBs the chance to buy a home with only a 5% deposit, has made it easier to buy, 63% think it has contributed to an increase in property prices.

Gary Pleasants, Quatro director, said: “Across all the political parties there is the overwhelming view that it is becoming almost impossible for first time buyers to get on the housing ladder and that the help to buy scheme has not made housing in the capital more affordable.

"This is set to be one of the major issues for Londoners at this month’s local elections and in the 2015 general election.”


Login and comment using one of your accounts...