A dearth of London homes that qualify for the UK government's Help to Buy scheme is forcing families to live in "cramped and uncomfortable" accommodation, according to Lucy Pendleton of estate agent James Pendleton. The average price paid by first-time buyers has risen from £150,000 a year ago to more than £220,000 this year, she said. There is a chronic shortage of London homes that qualify under the Government's flagship Help to Buy programme, new figures reveal. "The mass extinction of Help to Buy houses has begun, exacerbated by the upper threshold which hasn’t moved in four years", she said.
A dearth of London homes that qualify for the UK government's Help to Buy scheme is forcing families to live in "cramped and uncomfortable" accommodation, according to Lucy Pendleton of estate agent James Pendleton. The average price paid by first-time buyers has risen from £150,000 a year ago to more than £220,000 this year, she said. "The mass extinction of Help to Buy houses has begun, exacerbated by the upper threshold which hasn’t moved in four years", she said.