Expert says Help-to-Buy extension is '˜vital'

A PROPERTY expert has said that new data revealing the biggest increase in first-time buyers in over a decade shows the housing market is moving in the right direction.
By The Newsroom
Published 28th Feb 2018, 05:00 BST

The report by UK Finance shows that 365,000 first-time buyers took out a mortgage in 2017 – a seven per cent increase from 2016.

Regional managing director at Bloor Homes southern, John Lusty, said the figures indicated that efforts by the government and house building industry to help more people onto the property ladder were bearing fruit.

However, he added that there was no room for complacency.

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John said: ‘Since 2012 there has been a 55 per cent increase in the number of new homes being built each year, and the fact that the number of first-time buyers has now reached its highest level in 11 years is a further sign that these measures are having a positive impact.

‘Continued confidence and certainty, for both buyers and housebuilders, are essential if we’re to successfully address the housing shortage in this country. It is vital that Help to Buy is extended beyond 2021.’