Key worker first time buyers 'need more homes'

22-Jun-2007

Key workers and young first time buyers as a whole need to be provided with more homes if they are to ever purchase property for themselves, it has been advised.

TUC general secretary Brendan Barber, due to speak on the subject at the Glastonbury music festival this afternoon, has said that enabling key workers to live reasonably close to their place of work was also a key priority.

Government plans to build 30,000 social houses a year until 2011 should be raised to at least 50,000, the TUC has advised.

"With the cost of housing in the UK spiralling ever upwards, young workers are increasingly being priced out of the housing market […] The high cost of property in our towns, cities and rural areas is also forcing many of our key public sector workers to move further and further away from their places of work," Mr Barber commented.

Last week mortgage firms reported that their key worker mortgage schemes were progressing slowly, with more demand expected to materialise once essential criteria had been met.

For information about New Build HomeBuy, key worker schemes and shared ownership, click here.

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