23/09/2022
The news coming from the UK government this morning about the stamp duty changes are once again a mere plaster on the flesh wound that is the housing market for first time buyers. This policy change will only lead to sellers blending the stamp duty into the asking price, like we previously saw with the stamp duty holiday following the pandemic lockdowns.
What's more, when running the numbers, the benefit to first time buyers is minimal. The changes end up helping investors and 2nd home buyers more than FTBs. Yet another policy made to look like it's helping one group of people, while in reality helping another.
The issue has been, is and will remain twofold: supply and affordability. The UK is not building enough properties to keep up with demand - specifically for first time buyers, and affordability has been completely obliterated for most people over the years.
http://ow.ly/rgSs50KRf0J
At Proportunity we believe that affordability remains the key to unlocking home ownership. If you're like us, you'll question these policies and look through them to realise that the solutions are beyond what the government does. Start with the Proportunity Loan here https://www.proportunity.com/how-it-works!
