14 Nov

Government first-time buyer initiatives 'working well'

Government first-time buyer initiatives 'working well'

Schemes introduced by the government to allow people to get on the housing ladder in a step-by-step way have been hailed as a success by a company concerned with new homes.

Smartnewhomes.com has said that the number of people getting on the property ladder is rising thanks to initiatives such as the National Clearing House and the Shared Equity Scheme.

Managing director of the firm Dave Bexon commented: "The number of home buyers who have access to housing association property and low-cost incentives is increasing, and there is a range of competitively-priced shared ownership available."

He said that opportunities such as staircasing - where buyers can be flexible in how much they pay according to their circumstances - have a particular appeal during tough economic times.

Figures out earlier this week suggest the higher stamp duty threshold may be helping first-time buyers as well.

It showed that only 49 per cent of all buyers had to pay the tax in September this year, compared with 78 per cent in the same month of 2007.
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