Citing governmental statistics from 2006 which indicated that 40 per cent of first-timers under the age of 30 in the region received assistance to help them fund their house purchase, the Institute highlighted the financial pressures resulting from current affordability constraints.
Subsequently, the South East is the least affordable place for those looking to get on the housing ladder, with house prices significantly outpacing income and affordability issues exacerbated by the 'credit crunch' further compounding the problem.
The severity of the situation was revealed at the Chartered Institute of Housing South East's Annual Conference and Exhibition in Brighton, with research showing that the tightening in income-based affordability meant that difficulties in the region were second only to London.
Furthermore, the addition of 34,600 new homes was found to have done little to alleviate the problems facing the region's first-time buyers.
Speaking at the conference, Richard McCarthy, director general of housing and planning in the Department for Communities and Local Government (CLG), stressed that whilst the market 'had not imploded' it was important to keep the current levels of housing activity going.
He also added that the social housing sector needed to place a greater focus on tenants and customers as the Housing and Regeneration Bill continued its passage through Parliament, as the current debate was more provider-orientated.
He argued that tenants needed more choice: “The big picture on service provision is customer focus. This will be a challenge to landlords. There will be minimal regulation for good performers who work with tenants and local communities. But where the basic services are not being provided, the new regulator Oftenant should listen and step in."
