Help to Buy not to blame for London housing boomMay 29, 2014
Baroness Jo Valentine, Chief Executive of London First, said the latest Help To Buy figures showed the scheme shouldn’t be used a political smokescreen for a much bigger problem in the capital.
“London equates to less than 5% of all the homes bought under Help To Buy, with analysis showing only 2% of total housing transactions in London involve Help to Buy,” she said.
“Our biggest problem is a desperate lack of supply – we need to be building around 50,000 new homes a year in London and we are building less than half of that.
“We need politicians to confront the problem and face up to the fact that few people who already own homes want new housing built next door.