You are here: Home - News -

A quarter of London boroughs have no Help to Buy houses

by:
  • 19/12/2017
  • 0
The Help to Buy scheme is available on new build houses up to £600,000, but a lack of stock at this price level means that the scheme is effectively redundant in a quarter of the capital’s boroughs.

Research from London estate agents James Pendleton shows there are no new build houses available to families at that price level in eight of London’s 32 boroughs.

Slim pickings

In other boroughs there are only a handful. Lewisham, Southwark and Barking have just three each, while Greenwich and Wandsworth have just four.

There are just 603 for sale London-wide with Croydon boasting the most (59) followed closely by Richmond upon Thames (57).

In fact, houses account for just 2.7% of London’s new build property stock below £600,000, so families wanting to take advantage of the scheme are limited to flats.

Lucy Pendleton, founder director of James Pendleton, said: “We know that house prices are overinflated in parts of the capital, but this research really highlights the scale of London’s property crisis for families.

“This research shows that, for those among them who need a leg up, a quarter of the capital is off limits.

“With houses making up such a small proportion of London’s new build property stock below the Help to Buy threshold, the reality is that families will be forced to stay in cramped and uncomfortable accommodation.”

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • Jo Wilson from Legal & General Home Finance talks about her Best BDM nomination and her love for the equity release… https://t.co/0tHhv6Lwvc
  • Sponsored content: Four reasons your client wants a product transfer by Halifax Intermediaries… https://t.co/c1k3dj88LO
  • Nationwide trims rates as Accord ups cashback on buy-to-let deals - https://t.co/nbsZh3z49u

Read previous post:
Nick Chadbourne ceo LMS
Remortgage market goes all-in on fixed rate deals

Just five per cent of remortgage loans agreed in October were on a variable rate basis as the popularity of...

Close