Discounted Housing Scheme Out Of Reach Of Most First-Time Buyers

A high-profile housing scheme offering first-time buyers discounted homes will be unaffordable to the vast majority of workers on average or low incomes. The First Homes scheme has been described by ministers as “genuinely life-changing for people all over the country”. However, new analysis suggests it will be out of the reach of average earners in 96% of England. Research by Shelter found that, in almost all parts of England, someone on an average salary or lower could not afford to buy one of these new-build homes. It also shows that almost two-thirds (63%) of private renters in England have no savings at all for a deposit. Read more on the Observer website.

https://www.theguardian.com/society/2020/feb/16/first-homes-scheme-unaffordable-most-buyers