BUDGET HELP FOR HOMEBUYERS WELCOMED

Adam Offer, managing director of Besley Hill Estate Agents, who have 16 offices throughout Bristol and Gloucestershire, welcomed Chancellor George Osborne's announcement in the Budget that the Government is to subsidise deposits and provide state backing for loans to help homebuyers get on the property ladder or move up. Mr Offer said: "I think it will help buyers caught in the deposit trap - especially first-time buyers, but general movers too, including second-time buyers. The full detail is yet to be announced but initially it looks good. Our mortgage partners MAB will be looking in great detail at the scheme and will be providing our branches with the very best deals to help our customers to take full advantage of the scheme when it is launched. As the date is some nine or so months away I do see property values increasing as this date approaches as the market is somewhat starved of properties at the moment. I don't see this situation changing at any time soon. Supply is limited, demand is great, especially pent-up demand from buyers in rented accommodation who have rented over the last five or so years and now want to buy. I am disappointed that the Chancellor did nothing on stamp duty - but I guess we cannot have it all. All in all, very positive!"