The Newshound

London homes are to be frozen out of a new Help to Buy scheme despite £134,000 first-time deposits

First-time buyers face average deposits of £134,000 to get on London's property ladder, as the capital is excluded from a new Help to Buy scheme.
First-time buyers face average deposits of £134,000 to get on London's property ladder, as the capital is excluded from a new Help to Buy scheme.

London's housing construction has dropped to its lowest point in decades, with the situation expected to deteriorate further. The average two-bedroom rental now exceeds £2,200 a month, and a single room can top £1,000. Close to 75,000 families are trapped in temporary accommodation — more than twice the number at the beginning of the 2010s. Teachers, nurses and transport workers have relocated to cheaper areas outside the capital.

Homelessness in London is at its highest level in living memory.

Covid and the Ukraine war forced councils to cut back their biggest home-building drive since the 1970s.

Families are leaving the capital and its birthrate is falling.

MoreYahoo News UKOPINION - London's housing crisis is existential - but we fixed it before, we can do it again - Yahoo News UKEvening StandardLondon's housing crisis is existential - but we fixed it before, we can do it againThe TimesLondon homes to be frozen out of new Help to Buy scheme
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