16
May
More small homes should be available for FTBs
The government could be doing more to offer smaller homes under new
build schemes across the UK to help boost home ownership.
While schemes like FirstBuy allow first-time buyers the chance to
buy their first property at just 80 per cent of the value and with
just a five per cent deposit, it can often be the case that they
are either too expensive or too big for a market traditionally made
up of young couples.
Martin Collett, operations director at the English Rural Housing
Association, said: "They can look perhaps to use the planning
system to deliver more affordable homes in rural areas and homes
that are targeted at meeting the needs of local households, so
perhaps some smaller units."
He said that homes in rural areas tend to be larger family homes,
which are far from suitable for many first timers looking to get a
foot on the ladder.