Stamp duty clawback not enough to help first-time buyers, says housebuilder
UK housebuilder Bellway called for greater government assistance for first-time buyers after the Chancellor announced another stamp-duty holiday.
Alistair Darling, in today's Budget (March 24th), announced a scrappage of stamp-duty for properties valued under £250,000.
For Bellway finance director Alistair Leitch the move did not do enough to help the property market, the Evening Standard reported.
He added: "I don't think it will make much difference. It would be better if there was some incentive for first-time buyers to help them save for a deposit."
The firm chairman pointed out that due to large deposit demands on first-time buyers, they only made up 13 per cent of the market.
Indeed, a recent survey showed that many young adults labelled the large cost of a deposit as one of the biggest obstacles to buying a home.
Rather than stress about affording to buy a home, perhaps people may consider looking for property to rent in the London borough of Hillingdon, or elsewhere in the UK.
By Ben Carter
Published 24th March, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Streatham town centre to be improved by BID?
Major improvements could be made to Streatham town centre thanks to a new business partnership.
Read Article ... Published on 25th May, 2012
Olympic infrastructure 'to drive east London house market'
The infrastructure created by the Olympics will see the east London property market become more popular.
Read Article ... Published on 24th May, 2012
Olympic infrastructure 'to drive east London house market'
The infrastructure created by the Olympics will see the east London property market become more popular.
Read Article ... Published on 24th May, 2012
Barking Splash Park opens this weekend
Barking Splash Park will be free to use this weekend (May 25th-27th) to mark its opening.
Read Article ... Published on 24th May, 2012
Southwark estates to get cheaper energy bills
Residents in Southwark can look forward to cheaper energy bills thanks to the creation of a new underground green network.
Read Article ... Published on 23rd May, 2012
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
People may consider looking for property to rent in the London borough of Hillingdon, or elsewhere in the UK, after one housebuilder called for the government to do more for first-time buyers