More than four in five (86 per cent) developers believe the next government must do more to support first-time buyers.
Research from Shawbrook found that nearly two fifths (39 per cent) of developers think first time buyers should be a top priority.
It was also found developers “seem to favour” a Labour government, with 90 per cent indicating they believe a change of government would benefit the housing market overall.
However, only 9 per cent thought that a Labour government would specifically help first-time buyers.
Shawbrook managing director of development finance, Terry Woodley, said: “The upcoming election has the potential to breathe more life into the construction and property sector, especially as house building numbers have reduced in recent years.
“Challenges surrounding a lack of support for first-time buyers as well as a failure to streamline the planning process have led to waning activity levels, and subsequently have caused developers to call on the government to deliver supporting legislation.
“As such, it’s no surprise that our research results had strong numbers advocating for development in reforms such as alternative schemes to help-to-buy, modular construction, and abolishment of stamp duty, for first-time buyers.”
Additionally, when asked for changes they would like to see from a new government, the most common answer was easier planning permission process (35 per cent).
This was ahead of new schemes to help first time buyers (32 per cent), more support for innovative construction methods such as modular construction (31 per cent), and stamp duty holidays (30 per cent).
Other wishes included encouraging public-private partnerships, the introduction of a successor to help-to-buy, and low deposit mortgages.
tom.dunstan@ft.com
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