Shared ownership 'the only option for many first-time buyers'

Posted: 14 Apr 2010 10:18:18 GMT

With many people unable to purchase a home outright, shared ownership is becoming the only option for a lot of first-time buyers, it has been suggested.

Rebecca Roberts-Hughes, research officer at Metropolitan Home Ownership, says: "Shared ownership is their only alternative, and people are starting to realise that there are good quality new homes available."

She states that government support is essential for first-time buyers to get a foot onto the property ladder, which will, in turn, help the housing market as a whole to recover.

Ms Roberts-Hughes goes on to add that the government should encourage investment in tried and tested affordable housing schemes to give more help to this group of would-be homeowners.

Her comments follow new data from FindaProperty.com, which shows that the average first-time buyer property has risen in value by 0.3 per cent to £155,242.

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