The Covid-19 Pandemic has dealt wage cuts & job losses to so many. Statistics show that the biggest jump in unemployment is for those age 16 – 24*. On the other hand, we had the stamp duty holiday fuelling house price growth to an all time high.
Although the stamp duty cut has been advantageous for those with housing equity & secure jobs, the rise in house prices has not been an easy watch for those not yet on the ladder & potentially without a job.
Whilst we recover from this recession, some first time buyers may fear that house prices will continually climb away from them and they could potentially get caught into the rental trap.
So how do we go about ensuring we help everyone onto the ladder without punishing those on the ladder of further lining housebuilders pockets?