A generation 'could be locked out of the property market'

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A generation 'could be locked out of the property market'

The National Housing Federation (NHF) has claimed an entire generation will be locked out of the housing market if present conditions continue.

According to the NHF's research, homeowners will become a minority in London by 2021, with 44 per cent owning property while 51.6 per cent of people will be forced to rent.

Persistently high property prices coupled with large deposits and stricter selling criteria will all contribute to the future situation, meaning homeownership will "increasingly [become] the preserve of the wealthy and, in parts of the country like London, the very wealthy", explained the NHF's assistant director Kate Dodsworth.

Helen Adams, managing director at FirstRungNow.com, added to the calls for action by claiming that first-time buyers were essential in keeping the overall property market moving.

Ms Adams added that authorities, housing associations and lenders needed to "encourage first-time buyers to buy a home through creating some mortgage and buying schemes".

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