A third of Britain is opposed to Help to Buy amid concerns it “inflates property prices”, according to a poll by property investment platform British Pearl. The survey of more than 2,000 Brits found 31.5% did not support the scheme, designed to help people get a foot on the property ladder, with many believing it has actually made housing less affordable.
Of the third that were opposed to Help to Buy, 37.5% blamed it for house price inflation, while 35.8%argued that Government should instead use the cash “to build more homes”.
More than a quarter of those who disagreed (26%)claimed “it’s unnecessary and those who can’t afford to buy should rent” and 24.3% believe “the Government shouldn’t interfere in the market”.
The damning poll also found Millennials were among the least likely to be in favour of Help to Buy, while older respondents were actually more likely to support it. Just 59.8% of 16 to 24-year-olds supported it, along with 66.7% of 25 to 34-year-olds. However, 70.1% of 45 to 54-year-olds did, as well as 73.1% of the over 55’s.