Commenting, James Moss, director of Curzon Investment Property, said: “Without access to finance, buyers cannot purchase homes and with the situation likely to get worse, there is every chance we could see another fall in house prices.
“The only thing keeping prices stable is the government’s woeful lack of a coherent housing policy. Instead of pump-priming the market by building more homes, the coalition is building even less than under Gordon Brown.
“Combine this with rising student fees and job losses across the public sector and what we’re left with is Britain facing up to being a nation of renters as the home buying dream is eroded by another parliament of botched housing solutions and little access to finance.
“Of course if you’re a buyer lucky enough to have a substantial deposit, the picture is pretty rosy. You can benefit from comparatively good rates and modest prices in some areas. However, prime properties, particularly in London, remain very strong. But the outlook for the vast majority remains grim, particularly while ministers seem unable to get their act together on fixing our housing crisis.”
