RECENT ANALYSIS FINDS THAT THE HELP TO BUY SCHEME HAS ADDED TO THE INFLATION OF HOUSE PRICES
- 30 Aug
The government's Help to Buy scheme has added to the inflation of house prices according to a recent analysis, Inside Housing reports.
The analysis of the Help to Buy Scheme revealed the following:
- There was clarity from the start that demand-side subsidy of this kind would lead to a price and supply response
- The number of subsidies that would cause price increases and developer profits was unknown
- The Government's problem with this scheme is whether it offers value for money and storing up risks for the market and tax payer
- Someone in the treasury is devising a way of slowly winding down the scheme
The chief executive of Paradigm Housing Group, Matthew Bailes, said:
" ... clearly, it worked well for developers, and for providers, it was largely neutral, and part of the game if you wanted to buy new stock.
"Arguably, it suited the Housing Corporation too, by helping it to achieve its targets while claiming to have squeezed grant rates.
"The only losers were the taxpayers and the people who would have been housed had the wasted grant funding been used to fund additional units. Unfortunately, they didn't have much visibility of what was going on."
What do you think?
Please tweet comments @suppsolutions.
For more details, visit Inside Housing.
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Responding to the DWP Consultation: Housing Benefit Reform - Supported Housing "It was well-run, in a good location, and very useful. I've only one suggestion; as the session went on it would perhaps have been useful for bullet points of general agreement about what should be in the sector response to be displayed and added to as the session went on, maybe on a flip chart. Regarding your response paper, I particularly like the answer you give to question 9. In fact the general: "if it ain't broke don't fix it" response could be pushed harder." M.P. - Adref Ltd