Help to Buy Scheme Is Inflating House Prices

The damaging inflationary impact of the Government’s controversial Help to Buy scheme appears to have been confirmed, as the region where it has proved most popular has experienced the fastest-growing prices in the country.  Data published by the Treasury reveals that the mortgage guarantee scheme has been taken up most readily in the east of England. By December 2014 the scheme accounted for 8.2 per cent of all mortgage lending in the region. Meanwhile, Rightmove’s monthly analysis of regional house prices indicated this week that prices are now rising more rapidly in the east of England than anywhere else in the nation. Read more on the Independent website.

85,000 Approved Homes Still Waiting To Be Built

More than 85,000 homes in the east of England have been given planning permission but have not been built, a BBC investigation has found. The House Builders' Association said a lack of bank finance and stringent planning conditions could be to blame and the figure for proposed homes in the east was particularly high compared to the rest of the country because of its proximity to London. But it believed that applications were not being translated into houses immediately because of economic conditions and far-reaching demands on developers. Read more on the BBC website.

Rising Numbers of Over-50s Now Renting

Figures from lettings agency Countrywide reveals a significant increase in the number of tenants aged over 50 living in private rented accommodation. Between April and June, the report says that the rise in the number of over 50s renting properties in East of England and East Midlands was up three per cent year-on-year, followed by Wales and London up two per cent. The figures come as the Government's English Housing Survey shows that around one in three homeowners in England are pensioners and homeownership has dropped to its lowest level since the 1980s.  Read more on the Countrywide website.