First-time buyers are uppermost in people’s minds, with the two biggest issues for the UK housing market being lack of affordability for young people or that they take on too much debt to buy, a view polled by 80% of respondents.
Too many people on housing waiting lists (48%), housing market boom and bust (44%), the cost of moving house (37%), and the lack of supply of new homes (35%) were also seen as problems – all paling into insignificance next to the perceived plight of young would-be first-time buyers.
Yet consumers appear sceptical about whether the government can make a difference.
While 15% thought it likely or very likely that the government could improve first-time buyer affordability over the next five years, 80% thought it unlikely or very unlikely.
There was also a high degree of scepticism about the likelihood of the government alleviating any of the problems identified.
However, those polled felt the government would be more successful at improving energy efficiency in housing, the size of new homes, and the prospect of some social tenants transitioning to the private sector.
CML chief economist Bob Pannell said: “The survey found that, on balance, people expressed support for tighter lending criteria. But their high level of concern about would-be first-time buyers sits very uneasily with this. Overall, there is a strong case for saying: be careful what you wish for.”
