Is London Help To Buy Becoming Extinct?

The number of Help to Buy properties for sale in Greater London has crashed by 64.3% since 2017, according to new research, but which areas are the worst affected? In February 2019 only 1,619 Help to Buy properties were listed for sale across the whole of London, down from 4,535 at the end of 2017, according to research by modular homes provider Project Etopia. The research, based on listings on Rightmove and Zoopla, showed that in February 2019 almost half (15) of London’s 32 boroughs didn’t have any Help to Buy houses for sale at all. Read more on the Which? website.

https://www.which.co.uk/news/2019/03/is-london-help-to-buy-becoming-extinct/

Which? Urges Private Rented Sector Reform

The private rented sector is failing to serve tenants and landlords alike, a major report from Which? reveals. The sector is plagued by issues of sub-standard accommodation, insecurity and ineffective redress provisions.  Which? tracked the experiences of more than 2,500 tenants as they searched for, secured, lived in and moved on from rented accommodation in England. We also carried out a survey of 898 private landlords to understand the challenges they face. The report found evidence of wide-ranging issues from substandard property conditions to anxiety about insecure tenancies and a fear of reporting problems. Read more on the Which? website.

https://www.which.co.uk/news/2018/07/which-urges-private-rented-sector-reform/

Shared Ownership Too Expensive

Shared ownership schemes are intended to help cash-strapped first-time buyers onto the property ladder, but research has found that most young people in London are unable to afford even the minimum share. Shared ownership involves buying a share of between 25% and 75% of a property and paying rent on the remainder. For many people struggling to save up a large enough deposit to buy a home of their own, this is the most realistic way of buying a home. However, buying even the minimum share of a studio or one-bedroom shared ownership property within a 20-mile radius of London is impossible for most people aged under 30. Read more on the Which? website. 

Poorest Households Suffer Highest Inflation

Britain's poorest households are suffering from higher rates of inflation than official statistics suggest, according to new Which? research. These findings originate from the Which? Lived Inflation Index, which is based on the government’s Consumer Price Index (CPI), but takes into account differences in spending patterns between households. The index indicates the poorest households are experiencing higher levels of inflation than the richest households. In the year to July 2014, prices rose 1.8% for the poorest households, compared to 1.5% for the richest households. Those differences mount up over the years. Looking at inflation since 2008, the impact on households suffering high inflation is equivalent to additional costs of £450 a year, compared to households experiencing the lowest inflation rates. Read more on the Which? website.