Home Ownership Members Only

Home Ownership Members Only.

The National Housing Federation (NHF) has said that home ownership is becoming a 'members only club’. First time buyers now need as much as ten times what was needed in the 1980’s for a deposit.

The NHF has warned that if this trend were to continue, only the wealthy would be able to afford to buy a new home.  More than ever first time buyers are relying on family members being able to assist them in buyer a home.

In the Broken Market, Broken Dreams publication by the NHF they go on to explain that due to the fact that the housing market has been left unchecked for too long. This means more and more people are requiring help from the government and not because they are not working, but because their earnings are not able to cover all living costs. Over the last six years the number of people who claim housing benefit but also are in employment has doubled.