Commenting on the Help To Buy ISA scheme announced in the Budget, Duncan Stott, Director of PricedOut, said:
"Once again George Osborne has conjured up another Budget gimmick that will do more harm than good to the housing market. First time buyers need house prices to fall, but this Help To Buy ISA scheme will push house prices upwards, which is the last thing we need.
"Help To Buy ISAs mean the government is directly pumping taxpayers' money into the housing market to prop house prices up. It will do nothing to get the new homes we desperately need built and leave house prices for future first time buyers even further out of reach.
"Reluctantly we are forced to recommend that young workers seriously consider taking out a Help To Buy ISA, in order to avoid losing out to other buyers later down the road. However we are urging whoever ends up in power after the general election to cease and desist from these damaging gimmicky policies and instead embark on policies that will bring an end to rising house prices."