One in four unaware of Help to Buy option
The Government hoped to give a serious jolt in the arm to the housing market and the building industry by rushing forward the second part of its Help to Buy initiative from next January to last month. But its message appears to be failing to get through to the people who really matter: potential home-movers.
One in four remains unaware of the Phase Two extension of Help to Buy, while some potential homemovers have not heard of Help to Buy at all.
That’s according to figures published today by the property website Rightmove, which suggests that despite the hype following the Prime Minister’s decision in September to bring forward Phase Two, it is still too early to assess its impact.
Estate agents have reported that the move has contributed to a growing mood of optimism among potential buyers, but that appears to have failed to filter through to homemovers.
Miles Shipside, Rightmove director, said: “There is no doubt that Help to Buy has helped raise frustrated movers’ spirits. However, our survey shows widespread confusion among those who stand to benefit most from Help to Buy.
“There is more work to be done by government and industry if one in four people currently hunting for property risks missing out on a leg-up on to the ladder or a welcome shove up to their second home.”
The monthly survey shows that the average asking price of property coming to market fell by 2.4 per cent – down £6,181 – in November, in line with the usual pre-Christmas slowdown. This compares with an average November fall over the last three years of 3 per cent, so while this year’s drop is slightly more muted, it still reflects a reduction in the number of good-quality higher-priced properties coming to market as the festive season approaches, according to Rightmove.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
iJobs Money & Business
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...
$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...