Peter Forrest, Conservative GLA Candidate for Enfield-Haringey, warned today that big increases in taxes were pushing Haringey’s first time buyers off the first rung of the housing ladder.

New analysis by local Conservatives has revealed that the average first time buyer in Greater London is paying £1,062 more in stamp duty under a Labour Government. On top of this, a typical household in Haringey is paying £371 a year more in council tax.

Peter Forrest said:

“Soaring taxes have made it more difficult for young people in Haringey to afford a place of their own and get on the housing ladder. When Labour came to power, first time buyers accounted for half the housing market – now they represent just a third.

 The cost of buying a home could increase further if the Government push ahead with controversial ‘sellers packs’. These could cost another £1,000 to the cost of selling a home and, although the responsibility of the seller, the costs could well be passed onto the buyer in higher selling prices.

In conjunction with their assault on the Right to Buy, the Government’s policies are collectively destroying the ability of many young families to get on the first rung of the home ownership ladder.

The Liberal Democrat alternative is even worse – they would place VAT on new housing, which would add a huge £15,646 to the average cost of a new home in Greater London and make home ownership even more unaffordable.”

ENDS.