affordable housing London

The federal government’s recent decision to extend mortgage amortizations to 30 years for first-time homebuyers aims to make homeownership more accessible, but experts suggest this will do little to alleviate London’s tight rental market. With vacancy rates at a mere 1.7% and rental prices continuing to rise, industry analysts predict minimal impact on the overall rental supply. While the mortgage expansion now includes first-time buyers of any home type, along with those purchasing newly built homes, this change doesn’t address the root issue of housing affordability. Even with lower monthly payments, housing prices in London remain significantly high, making homeownership