UK first‑time buyers face housing shortage as stamp‑duty reform demanded

Rightmove data shows that new‑build housing schemes entering the market have fallen to their lowest level since January 2017, contradicting the government's target of 1.5 million homes. While the total number of homes for sale has risen 85 % over four years, affordable properties remain scarce. Rightmove calls for the abolition of stamp duty for first‑time buyers and additional funding for affordable housing.

The Intermediary Mortgage Lenders Association (IMLA), citing a Yorkshire Building Society report, estimates that around 3.5 million UK households are blocked from purchasing a home. Although 88 % of British adults still view homeownership as important, high deposits, affordability pressures and mortgage uncertainty are deterring many. First‑time buyers have fallen 6 % this year but continue to drive price growth, and the report warns that a generation could face a wealth gap of up to £1.6 million by retirement if access to homeownership does not improve.