North-South divide… affordability continues to be the BIG issue says Foundation Home Loans

Commenting on the latest Nationwide house price index Jeff Knight, Director of Marketing at Foundation Home Loans, said:

“The first quarter has been typically sluggish – typically a period when buyers and sellers contemplate their next move. While there is talk of a cooling London market and narrowing north-south price divide, let’s look at the bigger picture: prices are holding and, particularly for those first-time buyers, affordability remains an issue. Even with those benefiting from stamp duty cuts and low mortgage rates, the lack of supply remains the nagging problem.”

 “It’s imperative more is done to support not only those seeking a first or second home but also those seeking rented accommodation to tide them over. Minimal choice, poor standards and unaffordable prices risk many feeling alienated in the market and in time will impinge future activity.”