Editor's note: This brief was summarised by The Property AI Team from a report by Letting Agent Today. Read the original article for full details.
Most New-Builds Fail Your New Homes Test, Study Finds
Fewer than a third of new homes sold in England would qualify for the government's Your First Home scheme, according to a study by SAM Conveyancing. The research tested every new-build home sold to buyers in England over the past two years to see whether it would come in under the price cap for its local authority.
For letting agents and inventory clerks, the findings point to potential challenges around the eligibility of new-build stock for government homeownership initiatives. The study's focus on local authority price caps shows how regional price variations can affect whether a property qualifies.
The original report by Letting Agent Today covers the study's methodology and its implications. Readers are encouraged to consult the full article for complete details.
Source: Letting Agent Today