Support "essential" for FTBs
2010-04-13
Is it "essential" that there is government support for first-time buyers (FTBs), an expert has argued.Research officer at Metropolitan Home Ownership Rebecca Roberts-Hughes said that as banks have tightened their lending criteria, many people are no longer in a position to be able to afford to buy their first home.
"Government support will be essential in helping first-time buyers, and in turn helping the housing market recover," she said, noting that such support does not have to come from new schemes, but rather from further investment in "tried and tested schemes" to help people access affordable homes.
A number of experts have in recent months stated their belief that the homebuilding sector will only begin to pick up once there is sustained demand growth in the sector - with new buyers making up a key part of the market.
Recent figures from FindaProperty.com suggest that the average first-time buyer property increased in price by 0.3 per cent in April 2010, up to £155,242.
