Housing market stalled in February
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.”