Priced Out expert highlights worrying trend for first-time buyers

Date:Wednesday 20th October 2010
Author: Max Freedman

First-time buyers need help from the government as they are currently in a difficult position, an expert from Priced Out has claimed.

William Griffith, a spokesman for the organisation, explained that young people seem to be getting a rough deal from the state, with education, childcare and housing policies not working out well for them.

In his view, more investment is required for constructing new properties, so that younger prospective homebuyers are able to find an affordable residence.

Mr Griffith made his comments after the National Housing Federation reported that government spending cuts could lead to just 243 affordable homes being built in London and the south-east until March 2015.

He said: "Any reduction in house building is bad news for first-time buyers and housing budget cuts mark another moment when housing comes out the loser in the fight for political attention."

The Priced Out representative also called for the state to let prices fall in the property industry, since this would give younger consumers a chance to make a purchase.