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First-time buyers back Tory housing policy

Adam Williams
Written By:
Adam Williams
Posted:
Updated:
09/03/2017

Would-be first-time buyers have given a thumbs up to more housing polices from the Conservatives than any other party.

A survey by Halifax asked which housing policies proposed by political parties over the last few months would be of most benefit to young people aged between 20 and 45.

The bank said would-be buyers favoured nine policies, five of which were proposed by the Conservative party.

These policies included a pledge to offer a proportion of new homes only to first-time buyers, plans to launch a Rent to Buy scheme and an extension of the Right to Buy scheme.

However, the most popular individual policy was the Liberal Democrats’ plan to force owners of empty homes to renovate and return them to the market.

Craig McKinlay, mortgages director at Halifax, said joined up thinking across political parties was needed to solve the UK’s housing crisis.

“Housing was a major issue during the General Election campaign and political parties of all hues acknowledged that more needs to be done to help first-time buyers,” he said.

“However, this now needs to translate into concrete plans during the next Parliament. By taking the most beneficial cross party policy positions according to 20-45 year olds, the Generation Rent Report has created the ‘ideal’ policy package.

“Earlier this year the independent Commission on Housing identified that we need to deliver at least 2 million homes by 2025 to meet demand. Getting empty homes back on the market and tackling the shortfall in housebuilding needs to be a political priority and requires a long-term commitment if it’s to address the shortage of supply.”

Help to Buy was a major policy launched by the last government and McKinlay said most people believed it had been a positive step.

“The majority of participants believe Help to Buy has had a positive impact, and its good news that the schemes will be carrying on for a number of years yet. However, the fact that 39% either don’t know or are undecided demonstrates that more work is needed to educate people as to the benefits and how the schemes work.”