First-time buyers desperate as housing crisis deepens

First-time buyers are "increasingly desperate" to buy a place of their own as the housing crisis deepens, new research shows.

Today, 73% of non-homeowners aspire to own their home, up from 65% four years ago.

And nearly eight out of 10 aspiring homeowners are concerned about the availability and quality of homes, according to the 2016 Homeowner Survey conducted by YouGov for HomeOwners Alliance and BLP Insurance.  

The challenges first-time buyers face getting on the housing ladder and saving for a deposit remain top concerns, rated "serious problems" by more than 80%.

Aspiring homeowners are also increasingly concerned about the quality of housing, with 60% saying it is a serious problem.

The survey shows that the housing crisis is most acute in London.

However, Chancellor George Osborne's stamp duty reforms appear to have paid off, with fewer concerned about the impact of the tax.

Concern about negative equity has slumped to 44%, down from 64% two years ago, as house prices have continued to rise.

Paula Higgins, chief executive of the HomeOwners Alliance, said: “Despite a blizzard of Government initiatives aimed at helping homeowners, the housing crisis is deepening across the country, with ever more non-homeowners wanting their own home, and ever greater concern about the lack of housing.

“Many Government policies have boosted demand for homes, but what this survey shows is that the real problem is the desperate shortage of houses.

“Until the Government tackles the fundamental issue that we just don’t have enough good quality homes, the housing crisis will continue to deepen and a generation will continue to have their dreams of homeownership crushed.” 

Kim Vernau, chief executive of BLP Insurance, added: “The Government urgently needs to speed up the delivery of new homes for aspiring first-time buyers.”