Help to Buy loses momentum

Fri, 14 Nov 2014

Help to Buy loses momentum
House building firm Redrow has recently warned that we could face an imminent house availability crash, as the Help to Buy scheme loses its momentum.

The chairman of the company, Steve Morgan, said at Redrow's Annual General Meeting recently that the demand for homes through the Help to Buy scheme dropped over the summer, resulting in a more normal trade rate.

Sales rate per outlet per week dropped to 0.65 for the company in its regional businesses, whereas 2013 saw an abnormally high rate of 0.87.

"During the last ten weeks we have experienced a traditional autumn market and the sales rate, excluding London, was 0.68, in line with last year," Morgan said.

The biggest issue facing the house builders now is acquiring planning permission. Morgan explained, "Obtaining detailed consents and clearing countless unnecessary conditions remains a significant constraint on new outlet openings and growth," and he also postulated that next year's general election will have an effect on how easy it will be to acquire permission to build.

His speech indicates that house availability could well fall even further, as new builds will become harder to have built. As the Help to Buy scheme loses momentum and less homes are available for people, it could become ever harder for first time buyers to get onto the property ladder. The housing market still isn't giving us a break.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Note: For a free no obligation chat with an independant mortgage specialist about your requirements please complete ourmortgage enquiry form below.

Mortgage, Remortgage or Buy-to-Let Mortgage Enquiry Form

Stop Press: Find the perfect mortgage!
Lending criteria has been relaxed and our specialists can find you great mortgage offers to compare.
Our team do all the work to find you the best offer
We'll help you find the best mortgage for your needs and ensure that everything runs as smoothly as possible.
Deposits required are again falling
The cost of the best deals has dropped recently for those borrowing either 80%, 85% or 90% of their property's value
Independent, searching the whole market
With 1000's of mortgage products available our mortgage brokers will source the mortgage that suits your situation.
Please complete this quick, free enquiry form.




mths

Your Details

Home Buyer Guides

Home Buyer News

Speak with an independant mortgage specialist

About Company

HomeBuyService.co.uk is part of the SFN Network of websites. Sitefinders Net Ltd is a U.K based company setup in 1995. Our core business is the development of online businesses using the generic domain name concept. We have a growing portfolio of websites in many different industries such as electronics, finance, retail, seasonal and health.

Privacy Policy
FAQ
Sitemap

Get in Touch