Thwarted buyers still want to own homes

Nine out of ten Britons still desire to own their homes, despite the current economic and mortgage market climate that is making it hard to do so and causing many to postpone their plans, a survey has found.

The study by the New Homes Marketing Board (NHMB) revealed a variety of reasons for people who want to buy their homes not being able to do so, with mortgage and deposit costs accounting for 60 per cent of these.

Actions favoured by a majority of those polled that could ameliorate the situation include mortgage interest tax relief, an interest rate cut and a government-backed savings scheme, while 45 per cent called for a cut in stamp duty.

Those seeking to get on the housing ladder may consider the alternative means offered by the self build method.

Land Registry figures published today showed that in June this year the number of completed house sales was 39 per cent down on 12 months earlier.