The greatest concern is to maintain a sustainable property
market in the UK. With too much government assistance, there is a worry that
house prices will become falsely inflated.
The article states “…analysts said house price rises were
“approaching madness” after the Halifax house price survey showed values jumped
2.4pc in February, the biggest monthly increase in five years. Prices were up
7.9pc on a year earlier.”
Therefore, the Royal Institute of Chartered Surveyors suggests
that if the scheme was regionalised, an appropriate balance of buyer support and
market survival would be achieved.
Help to Buy was launched in 2013 giving first-time buyers the
opportunity to borrow up to 20% of the value of a new-build property. This loan
would be interest-free for 5 years. In autumn the scheme was reviewed to include
not only first-time buyers and not only new-build properties.
Dawson Surveyors says that this scheme has created incredible
opportunities for first-time buyers to enter the property market and it has
almost certainly aided a property market bubble in recent months in the UK.
Don’t
forget your property survey!!
Happy Homes
have been assessed by a qualified professional.
www.dawsonsurveyors.com
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