Debate contribution: First-time Buyers: Support

Debate contribution by Mr Maurice Bradley on 3 February 2025.

MLA

Mr Maurice Bradley

Party at the time

Democratic Unionist Party

Date

3 February 2025

Type

Debate contribution

Business

Opposition Business

Heading

First-time Buyers: Support

Assembly identifier

Official Report component 4774659

Read the official Assembly record

Text

Thank you, Mr Deputy Speaker. This is a very important motion for debate. While I agree with the use of some sort of equity-based help-to-buy scheme and broader interventions to support first-time buyers, there are potential drawbacks. A help-to-buy scheme, without a corresponding increase in housing supply, could increase demand, driving up house prices further and making homes even less affordable in the long run. The scheme would need to be paired with an aggressive housing supply expansion, including incentives for new builds, streamlined planning and public-sector development. I do not foresee there being much progress on increased housebuilding during this mandate, given the often highlighted lack of infrastructure. I also worry that any proposals could prevent those on lower incomes and those deemed to have lower mortgage affordability from purchasing. I ask this question: should assistance be limited to first-time buyers? We have had a good debate. In the previous debate, Daniel McCrossan highlighted the need for hard decisions to be made in this place. That is what is necessary in order to make the improvements to the waste water, sewerage and fresh water infrastructure that would allow housing to be built. There are lots of hard decisions to be made in the House. Mark Durkan raised concerns that co-ownership and the rent-to-own scheme have not been the success that they should have been. Ciara Ferguson urged extreme caution over any policy that could have a negative effect on housing stock and called for affordable, sustainable housing. Kellie Armstrong highlighted how low mortgage rates are as relevant today as they were years ago. She singled out first-time buyers' reliance on the Bank of Mum and Dad and called for continued work on the housing strategy. Diana Armstrong raised the problems of rising rents and mortgages, saying that they are putting greater pressure on social housing stocks. She also called for more affordable housing. Sian Mulholland said that house prices are too high and that first-time buyers, because they need a £17,000 down payment, do not have the equity to get on the property ladder. Gerry Carroll said that the lack of housing has a negative effect on communities. He worries that help-to-buy schemes often benefit only the developers. David Brooks expressed concerns about cash buyers snapping up properties for Airbnb and buy-to-rent. Those and other concerns need to be carefully teased out to ensure sustainability. That is why I commend our amendment to the House.

406 words. Text as published by the Northern Ireland Assembly.

Assessment

Not flagged

Jev’s structured answers

Assessed 21 October 2026 at 11:55 UTC by jev-1.13.0 (requested as typesafe/jev) under rubric 2026.10-r9, methodology 1.9.

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