WORCESTER'S Labour parliamentary candidate has poured cold water on nearly 500 first time buyers getting on the housing ladder in Worcestershire - saying she is worried about it "fuelling" debt.
Councillor Joy Squires insists the Government's £9.7 billion Help to Buy scheme is creating another potentially dangerous housing market bubble.
The politician's remarks comes two days after your Worcester News revealed how 473 county people have got their first home under the deal, which offers mortgages in return for a five per cent deposit rather than 25 per cent.
The data includes 83 people in Worcester, 142 in Wychavon and 30 in Malvern.
Cllr Squires said "I am pleased for those who have been able to get mortgages for the first time, but share widespread concerns about Help to Buy fuelling property prices.
"In the end we need the Government to support more house building, which is at an all-time low under this current Government, so that all housing needs can be met without it causing housing price inflation and encouraging high levels of mortgage debt."
It follows a surge in property building, which across the country stands at its highest rate in 11 years after 15 successive months of growth.
Property prices are currently nearly 10 per cent higher on average than one year ago, with London and the South East responsible for most of the rise.
But Worcester MP Robin Walker, who welcomed Help to Buy earlier this week, said the Coalition has led the recovery after a "collapse" in house building.
“Labour’s record on housing was truly appalling," he said.
"Their 'Great Recession' led to a collapse in housebuilding and it became nearly impossible for many people to achieve their dream of owning their own home."
Under the scheme, the Government underwrites the remaining 20 per cent deposit normally needed so lenders can hand over the keys.
It applies on properties worth up to £600,000, subject to lending approval, although the average value of a home bought under Help to Buy is less than £180,000.