Stop Property Investors Buying Affordable Starter Homes

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Stop Property Investors Buying Affordable Starter Homes

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As if buying your first home isn't hard enough, young and hardworking first time buyers are up against rich 'cash buyer' property investors who are buying all the affordable starter homes.
They modernise these properties to such a high standard that they become unaffordable to first time buyers.
For example: in the Peacehaven area of Brighton, East Sussex, a 1 or 2 bedroom flat ranges between £90,000 and £130,000. But then a property investor outbids first time buyers, modernises the property and sells it at £150,000. Or they rent the property out and it becomes one less affordable starter home on the market. We need to stop this from happening. First time buyers should be given the upper hand and more of a chance.
The government need to put a cap on either how many properties one individual investor can own or make investors avaiable to only buy properties over a certain amount of money depending on the value of homes in the local area.

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