The government Help to Buy scheme launched this week will stimulate the UK housing market according to estate agent Marsh & Parsons
In London the firm believes Help to Buy will free up mid-ladder buyers with first time sellers reaping the benefits of this and almost certainly increase the volume of homes for sale.
Peter Rollings, CEO of Marsh & Parsons comments: “The bringing forward of the Help to Buy scheme is certainly encouraging politically charged tit-for-tat with more spin than Shane Warne in his prime. But the scheme will help to stimulate the UK housing market over the short term like a shot of adrenalin.
“Outside London the market desperately needs this impetus as prices have risen anaemically for some time but in real terms they haven’t risen for a number of years. But in London over the last 12 months we have seen price increases of between 10%-15%.
“Yet the capital needs this stimulus to free up mid-ladder buyers who want to become first time sellers. This will create a much healthier balance between supply and demand and it’s these buyers who need help to meet often stringent lending criteria of the banks.”
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