To think "the government giving £3'000 to peoples first home" isn't s good use of public money

[DyslexicScientist]

With so many essential services cut, doesn't seem right to me to give people money to buy a first house.

Apart from anything the average house price in england has just hit 300k and this is about 12 times the average wage, so prices are in a bubble and unsustainable. This just seems to be adding fuel onto the fire, help to buy as seemed to have the affect of also stoking house prices, making people worse off as they have a loan to repay in 5 years.

The biggest drag on any government tackling this head on is the voting demographic who are home owners, everyone wants to buy a bargain and sell at a profit, the argument of build more houses as a solution is far to simplistic as there are many fundamentals in play and over a decades worth of 'house prices always rise' mind set that needs to be shifted.

building more houses is the solution, but you are entirely correct that it is an unpopular one with the demographics that matter. This is why you get things like RTB and HTB. What the government is trying to do for political reasons (as you say) and frankly for outright corrupt reasons (MPs are big into the BTL market), is to simultaneously make housing affordable AND keep prices high. Well, you can't do that except by picking winners (subsidising a small few). What we need is a crash in prices, and I say that as a home owner. This government, while the worst so far it's predecessor can certainly take a huge share of the blame, has consistently missed building targets by miles for 15 years. It's criminal. It's ruined the lives of at least one generation. I have friends with good jobs, have done everything right (education, degrees, hard work, AND gainful employment) locked out of the market. Forget teachers, people on NMW, and nurses.

The government has shown that it is willing to take on Nimbyism with HS2, the problem is not insurmountable.

The fact that this system is slightly complicated and vaguely intimidating is not a good thing - it favours the more educated and we already know they are more advantaged.

I agree with this - I wasn't trying to say it was well or fairly organised but trying to point out why it might not have the same uptake as in Australia, and potentially not have the same impact on house prices across the board.

Felicia, my understanding is that whilst you can transfer some balance in, you can only transfer in up to £1,200 in the initial month, and then a maximum of £200 after that, so you can't just chuck in pre-existing savings and immediately get the bonus - unless I've completely misunderstood!

Personally I would like to see much more renter-friendly regulations on the rental market (long term leases, freedom to make improvements, decorate as you want etc), more along the lines that exists in Germany. Currently there seems to be a big gulf in terms of security and desirability between owning and renting which seems to fuel the market madness. Home ownership doesn't have to be the be all and end all but it is in the UK due partly to the way renting works.

No that's right, if you do an ISA transfer in you don't earn the bonus on the amount you transfer in, just the amount you are putting in 'new' if that makes sense.

It will differ from bank to bank probably but not too much.

The government has shown that it is willing to take on Nimbyism with HS2

Also fracking. They have no problem tackling Mimbyism when their favourite corporations stand to make millions. Pretty soon I reckon any public service will be required to return a profit or it will be either privatised or handed to the public. Short termism at its worst.

YANBU. I didn't have any state support and I'm saving into a deposit plan already for my DC. If cuts weren't happening I would absolutely agree with the need to help with houses, in the current climate the decision is baffling!

Also fracking. They have no problem tackling Mimbyism when their favourite corporations stand to make millions.

indeed. The trouble is that they and their constituents don't want to solve the problem, and the people hurt by this mad system don't vote.