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Housing Industry welcomes chancellor's boost for homebuyers

published on 25/03/2015  

First-time property purchasers saving for a deposit will be given a 25 per cent financial top up from the Government, George Osborne (right)  announced in last week’s Budget statement, much to the delight of many property professionals.

Many industry experts are pleased that the Chancellor has recognised the need to provide yet more support for homebuyers by announcing the launch of a Help to Buy ISA later this year.

Whilst the operational details still need to be finalised, in principle the scheme will provide an important financial incentive for first-time buyers, helping many people achieve the goal of owning their own home.

“Combined with the extension of Help to Buy and measures introduced in the Autumn statement to reform Stamp Duty Land Tax with a fairer system, this should provide further positive stimulus for the wider housing market,” said Chris Endsor, Chief Executive of Miller Homes.