Govt support 'needs to go to first-time buyers'

Wednesday, 14 April 2010 4:00 PM

First-time buyers need government support in order for them to secure a property, it has been suggested.

Rebecca Roberts-Hughes, research officer at Metropolitan Home Ownership, claimed that additional government support is required for the intermediate market, but investment in new schemes could "deter customers and some lenders".

She advocated further investment in "tried and tested schemes", while reviews and reinstatements should be undertaken of "products that have delivered the most affordable homes at the best grant rates and to the highest customer satisfaction over the last few years".

Ms Roberts-Hughes said that many people are unable to afford a first home outright and are having to opt for shared ownership.

People are starting to recognise that there are good quality new homes available, she added.

FindaProperty.com recently reported that the average property price went up by 0.7 per cent in April to £218,475, representing an increase of 2.3 per cent in the last year.

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