Housing affordability 'must be improved'

Thursday, March 11 2010

Regardless of the party voted into power in the general election, increasing housing affordability for first-time buyers must be a priority.

According to spokesperson for PricedOut.org.uk Katy John, in 42 per cent of areas in the UK see first-time buyers being priced out of purchasing property.

"We need clear measures in place to create a more sustainable, affordable housing market and prevent another property boom like the one we have seen over the last ten years," she explained.

Policies on sensible lending, building more homes and increasing tax on the buy-to-let market.

Yesterday (March 10th) Zoopla.co.uk revealed that housing affordability was at its highest level in seven years.

The average UK earner can afford 58 per cent of UK properties compared with 34 per cent in 2007.

But those who are struggling to afford a house may wish to avoid London, which is the least affordable.

The most reasonably priced property in the country is found in Bradford.