Government tries to kick start the housing market and help first time buyers

The government has announced a series of 130 measures to help the UK’s ailing housing market, focusing in particular on first time buyers. Since the credit crunch of 2007 the housing market has been in decline with the number of house sales falling and prices dropping considerably from the peak of the housing boom. Many experts believe that problems have been made worse by a lack of new homes, with the number of houses being built at the lowest level since the 2nd World War, a general lack of mortgage finance with tightening lending criteria, and a rise in the size of ...