Election policies 'do little for first-time buyers'
The three main political parties are not doing enough to help first-time buyers in their election manifestos, according to one property writer.
Writing in the Times, Lucy Alexander suggested that Labour and Conservative party policy implying that stamp duty relief is a solution to the lack of young people getting on to the property ladder has failed to help.
She pointed to figures from GfK Financial, which showed purchases among first-time buyers at a 17-year low and Ms Alexander believes stamp duty might not be "the real problem".
Furthermore, she stressed the difficulty of saving for a deposit often equating to 25 per cent of the value of a property, together with stringent credit checks.
The Independent reported recently that deposits had increased by around 400 per cent over recent years, leaving individuals needing to use an average of around 64 per cent of their annual salary.
"This is almost impossible for people in their 20s, especially those living in London, owing to a combination of rising rents, high graduate debt, an uncertain job market and low interest rates," she added.
News of continuing problems for buyers may attract more people to look for property to rent in the London borough of Lewisham, or elsewhere in the UK.
By Martyn Glynn
Published 23rd April, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Enfield £1.3bn masterplan unveiled
A masterplan has been unveiled that will see a 200-acre site in Enfield regenerated as part of a £1.3 billion plan.
Read Article ... Published on 23rd May, 2012
Londoners encouraged to grow their own fruit and veg
People in London are being encouraged to grow their own fruit and vegetables.
Read Article ... Published on 22nd May, 2012
Merton 'embraces green improvements'
Merton is now a cleaner, greener location to live in thanks to the implementation of the Wandle Valley Low Carbon Zone (LCZ).
Read Article ... Published on 22nd May, 2012
London house prices rise by 1,782% in past 35 years
London house prices have increased by 1,782 per cent in the last 35 years.
Read Article ... Published on 21st May, 2012
Poplar's Chrisp Street to get £100m regeneration
Some £100 million is to be spent regenerating the Chrisp Street area of Poplar in Tower Hamlets.
Read Article ... Published on 21st May, 2012
Putney community hall gets £150k refurb
Newlands Hall in Putney Vale, Wandsworth, has reopened after undergoing significant refurbishments.
Read Article ... Published on 18th May, 2012
Harrow cycling and walking routes improved
Extensive improvements have been be made to the cycling and walking routes in Harrow.
Read Article ... Published on 17th May, 2012
Norwood Park gets outdoors gym installed
An outdoor gym has been installed in Norwood Park in an effort to encourage more people to take up exercise.
Read Article ... Published on 16th May, 2012
Brixton to benefit from £75m regeneration
An estate in Brixton is to be improved thanks to a £75 million development project.
Read Article ... Published on 16th May, 2012
Olympic concerts to be held at Hyde Park
A series of Olympic-themed concerts are to be held at Hyde Park.
Read Article ... Published on 15th May, 2012
Potential first-time buyers may be encouraged to look for property to rent in the London borough of Lewisham, or elsewhere in the UK, as one writer has claimed policy on affordable housing from the three main political parties will do little to improve market conditions.