Help to Buy review could be the catalyst for stalled development projects, says Goodman Jones
Giuseppe Scozzaro said: “If Andy Burnham revives Help to Buy or a similar scheme, it could kickstart stalled projects into being built.”
Giuseppe Scozzaro, partner at Goodman Jones, said bringing back Help to Buy could be the catalyst for moving stalled development projects forward.
His comments come as reports noted that Andy Burnham is set to review plans to bring back Help to Buy.
Scozzaro said: “With Andy Burnham reportedly set to review plans to bring back Help to Buy, developers will be watching closely, particularly those whose schemes depend on first-time buyers and younger purchasers.
“For many developments, demand at the lower end of the market is what determines whether a project is a viable investment opportunity.
“Where margins are already tight, developers are becoming increasingly cautious about progressing schemes.”
Scozzaro added: “Even after investing in land deposits, surveys and other early-stage work, many are deciding not to move forward if demand from first-time buyers isn’t there to make the numbers work.
“If Burnham does bring back Help to Buy or launches a similar scheme to help people onto the housing ladder, it could be the catalyst that turns projects currently sitting on the sidelines into developments that finally get built.”
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