Building smaller homes 'can help FTBs'
16th May 2012
The construction of smaller homes in rural communities can have a significant impact on the first-timer buyer (FTB) market, it has been claimed.
Martin Collett, operations director at the English Rural Housing Association, said that there are many things that the coalition government can do to help first-time buyers in rural areas.
This includes supporting housing associations and FTB initiatives, as well as shared-ownership products, he explained.
"Also, they can look perhaps to use the planning system to deliver more affordable homes in rural areas and homes that are targeted at meeting the needs of local households, so perhaps some smaller units," Mr Collett suggested.
He added that, in rural areas, the properties coming on to the market are larger family homes, yet there are single people and couples who perhaps would be best suited to a smaller property.
"Delivering smaller units for those households would certainly help," the expert went on to note.
His comments came after a recent poll of UK adults who do not currently own a property carried out by MoneySupermarket.com revealed that people expect to be an average 37 when they finally become first-time buyers.
There is still good news for those who do decide to buy a home, however, as there are currently 209 mortgages available for those with only a ten per cent deposit, which is up 20 per cent on 2011's figures.
Posted by Staff Writer: Frances McDonald
© Zoopla Property Group Limited