NAEA Propertymark comments on the new £3bn Affordable Homes Guarantee scheme

Mark Hayward, Chief Executive, NAEA Propertymark, comments on the new £3bn Affordable Homes Guarantee scheme, announced in today’s Spring Statement.

“We support anything which serves to increase the supply of housing stock and improve accessibility for first-time buyers (FTBs) who have been increasingly priced out of the market over the last five years. Demand for housing continues to rise, and the number of new homes currently being built isn’t enough to fill this void. Coupled with the fact that the buying and selling process is lengthy and expensive, there’s no incentive for homeowners to move. This means people are staying in their first properties for longer and consequently, there’s a severe lack of affordable housing, so we wholly support the measures announced today. However, in terms of annual transactions, 30,000 affordable homes simply isn’t enough to fix the broken housing market. More needs to be done.”

Kindly shared by NAEA Propertymark