NAEA "relieved" at affordable housing measures

24-Oct-2008

The National Association of Estate Agents (NAEA) has expressed delight at efforts to make housing more affordable in the capital.

It says it is "relieved" that the Greater London Authority has taken on a more realistic approach to house prices, which may come as a relief to first-time buyers.

Boris Johnson has taken the initial steps towards removing the 50 per cent affordable housing target across the City.

Commenting on the move, Peter Bolton King, chief executive of the NAEA, says: "It is refreshing to see that the mayor is adopting a more realistic approach to the much needed affordable housing situation."

He adds that the body will work with councils on an individual basis to ensure the trend continues.

It was announced earlier this week that the government intends to make repossessions a last resort in the future, suggesting that companies involved in sale and rent back schemes need to be brought under the regulations of the Financial Standards Authority.

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