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High prices still a problem for homeowners

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More than three-quarters of homeowners believe high house prices are a problem for the housing market and the wider economy.

Research conducted by the Homeowners Alliance found 76% believe high prices pose a problem with the lack of ability for first-time buyers to get onto the property ladder and saving for a deposit also highlighted as major concerns.

The survey found that in ten of the twelve UK regions rising house prices rising excessively was more of a problem than negative equity.

This problem is most acute in London with more people in the capital saying house prices (55%) and housing availability (44%) are very serious problems than anywhere else.

Nationally the appetite for home ownership is on the rise with 68% of non-homeowners eager to own compared to 65% in January 2013.

However, nearly two-thirds (64%) say that stamp duty rates are a problem.

Homeowners Alliance chief executive Paula Higgins says: “Despite talk about the London bubble, worries about high house prices and the shortage of housing has become a national issue.

“Talk about the housing crisis has spread across the UK, as homeowners everywhere have become worried that housing is becoming unaffordable and owning their own home is becoming an impossible dream for young people. This is the true ‘cost of living’ fear – people can’t afford the roof over their head.”

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