Share this page
Print this page:
Add this page to:
Budget cuts "bad news" for first-time buyers
20/10/10
Edited by Tom BardsleyThe National Housing Federation's (NHF) warning that possible budget cuts could be so extreme that construction activity could drop across the UK is "bad news for first-time buyers".
This is opinion of William Griffith of PricedOut - the national campaign for affordable house prices and a body that is actively lobbying the government.
According to the NHF, funding will only be available for an extra 243 affordable properties in London and the south-east above those already planned up to March 2015, which is in stark contrast to the 103,000 residences that could have been established if Whitehall had elected to protect the budget.
"If the coalition takes a step back from Labour's obsession with micro schemes to prop up the housing market and lets prices fall, this will be a refreshing change for the better," Mr. Griffith remarked, adding that there appears to be a trend of services that young people rely on being the first to feel the hangman's noose.
