Friday 14th March 2008
Assistance given to first-time buyers (FTBs) by chancellor Alistair Darling might not be enough, it has been warned.
Property service National Homebuyers asserts that Mr Darling is living in "Never Never Land" by ignoring the plight of young prospective home purchasers.
The firms Julian King says: "Its about time he stopped playing Peter Pan and grew up."
But the cautionary tale applies not only to FTBs, he adds, suggesting that all homeowners could be affected if the property ladder were taken out of reach.
"If the number of new buyers coming into the housing market falls it will have a knock on effect - the market works when properties are being bought and sold," he concludes.
National Homebuyers expresses disappointment that Mr Darling did not take the "golden opportunity" presented by the Budget to entice more FTBs into the market.
The Home Builders Federation responded to the Budget with similar concerns, saying that FTBs "so urgently need" assistance from the government.
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