Lack of housing in South West is major barrier to owning home
Nearly a third of people in the South West feel the lack of suitable housing is a major barrier to owning their own home.
The latest research from the Legal and General Mortgage Club shows people in the South West are also concerned about an expected rise in house prices, a lack of deposit and stamp duty.
The South West was the only region in the UK not to feel more confident about buying a house today, compared to a year ago, with 70 per cent of respondents feeling “about the same” as they did last year.
Ben Thompson, managing director of Legal and General Mortgage Club said: “A lack of appropriate housing stock in certain areas is becoming a major impediment to a healthy and functioning housing market and stamp duty continues to place a major hurdle in front of would-be home buyers.”
Fantastic offer at Swanson Ford, Newton Abbot. 3 Years FREE Servicing and 5 Years Warranty available on your BRAND NEW FORD FIESTA with the AWARD WINNING ECOBOOST ENGINE!!!
Terms: Limited stock available. Only whilst stock lasts
Contact: 01626 240583
Valid until: Tuesday, December 24 2013
Mr Thompson called for Stamp Duty to be removed to encourage more housing stock to be released onto the market.
He said: “It’s also abundantly clear that we urgently need to build more homes in the right areas to meet demand. At the moment we have a two speed housing market recovery and we must do all we can to redress any imbalance sooner rather than later.”