34% of people looking to buy their first home want the government to introduce policies in the Budget to reduce the number of empty homes across the UK.
This is closely followed by 33% who want the Help to Buy scheme extended to all property types, not just new builds.
Other measures that prospective first time buyers want to see in today’s Budget include:
|Suggested measures||% of respondents|
|Introduce policies to reduce the number of empty homes||34%|
|Extend Help to Buy to all types of property||33%|
|Introduce a Rent to Buy scheme||27%|
|Incentivise landlords to sell to long-term tenants||27%|
|Abolish stamp duty in favour of a different type of property tax||19%|
Respondents across the UK also echo the view of prospective first time buyers, with 37% wanting the government to introduce policies to reduce the number of empty homes. This is closely followed by 29% who want the Chancellor to introduce a Rent to Buy scheme, by which private landlords could be incentivised to sell properties to long-standing tenants without having to pay Capital Gains Tax.
Damian Thompson, director of mortgages at Aldermore, added: “There is no doubt first time buyers are facing an uphill battle to get on the housing ladder and they believe more needs to be done by the government to improve their chances of getting the keys to their first home. Abolishing stamp duty for first time buyers in last year’s Budget was a promising move, but underlying challenges, such as affordability and supply shortages, remain.
“In 2017, more than 200,000 homes in England sat empty for more than 6 months, according to government figures. Getting these houses back on the market to help ease the shortfall of housing supply and provide more choice to first-time buyers has proved a popular idea among would-be buyers. We think the suggested measures highlighted in our research can provide the government with food for thought, and we hope to see housing feature at the top of the agenda on Monday.”