29/10/2026
A first-time buyer scheme that excludes more than half of new homes in inner London. Is this really the solution?
New analysis reported by The Times reveals that 55% of new homes sold in inner London last year exceeded the £650,000 price cap for the Government’s new Your First Home scheme.
At Curetons, we’ve been sceptical of this policy from the outset. While helping first-time buyers onto the property ladder is absolutely the right ambition, restricting support to new-build properties risks benefiting developers more than the people the scheme is supposed to help.
New builds often command a premium over comparable existing homes, and buyers must also consider service charges, future resale values and the long-term cost of the Government’s equity loan.
First-time buyers need genuinely affordable homes, not simply more ways to borrow money to purchase expensive ones.
If the Government is serious about improving homeownership, it should focus on making the wider housing market more accessible, rather than favouring one particular sector.
📰 Read the full article in The Times:
https://www.thetimes.com/article/a9ce3ca0-79b4-49e5-8ad6-36ee03744a42
The Your First Home scheme will have a price cap of £650,000 for properties in inner London, and £500,000 in outer London