Housing market stalled in February

Robyn Hall

March 26, 2010

That’s the verdict of Jonathan Moore, director of easyroommate.co.uk.

He added:”The government will be hoping that lifting the stamp-duty threshold for first-timers will kick-start progress again in the run-up to the election0.

“But it doesn’t tackle the real problem for first-timers.

“Properties are still hugely expensive. Despite this monthly decrease, the average home costs 7% more than last year.

“Young buyers simply can’t access enough mortgage finance to get themselves onto the property market. We need to see a greater focus on stimulating greater lending to those who need it most.

“If the Chancellor forced state-backed mortgage lenders to consider potential room rental income, a first-time buyer looking to share could access a further £11,000 – a welcome extra wad of cash to put towards buying a first home.”

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