Commenting on the Chancellor’s Autumn Statement announcement about a London Help to Buy Scheme, Jan Crosby, Head of Housing for KPMG, said:
“It makes sense that where house prices are roughly twice the national average, people are offered twice as much support to get on the property ladder. This will allow a similar percentage of the population to benefit from the scheme as elsewhere in the UK, addressing the current imbalance between the capital and the rest of the country.
“Of course, an improved Help to Buy offer will fuel demand, meaning that inflation will also rise, but it’s a definite step in the right direction in terms of helping to keep talent in the capital city.”
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.