Monday, 3 July 2017

Government Housing Schemes Have Little Impact On Social Mobility

Flagship government schemes to help more people get on the UK housing ladder have little impact on improving social mobility as better-off buyers are most likely to benefit from the support. A new report published by the Social Mobility Commission into the impact of low-cost home ownership schemes found that those benefitting from schemes - such as Help to Buy - earn more than one and a half times the national working age median income. Around 3 in 5 first-time buyers said that they would have bought anyway and that the scheme merely enabled them to buy a better property, or one in a better area, than they were originally looking for. Download the report from the Gov UK website.

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