Helping aspiring homeowners top priority for chancellor

04-Oct-2005

Increasing the overall number of property owners in the UK is a top priority, according to Chancellor Gordon Brown.

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Mr Brown has pledged to get more people on to the first rung of the property ladder and to encourage more first time buyers in to the market, as he looks to raise homeowner figures across the UK.

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He believes that more action should be taken to extend homeownership to those who are still renting or those who cannot afford the traditional route and that targets should be met within the next four years.

"Our aim is to move the numbers of people who are homeowners up from 70 per cent to 75 per cent," the chancellor said. "My vision is to build a homeowning, asset-owning, share-owning democracy."

However, if these targets are to be achieved, property experts have argued that more initiatives, such as improved shared ownership schemes, must be put in place to avoid aspiring homeowners from being priced out of the market.

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