A new report from residential property specialist Hometrack suggests that the supply of one-bedroom apartments urgently needs to be increased in order to make the proverbial “first rung”of the housing ladder accessible to first time buyers. Based on the house price/earnings affordability measure, Hometrack statistics show that just 3.1% of the housing stock in England and Wales, or 800,000 homes are affordable for first timers. More than two thirds (67%) of the housing stock comprises “family”homes of three or more bedrooms, with three-bedroom properties accounting for the bulk (47%) of supply.<br><br>Said Donnell: “The lack of smaller sized homes, combined with strong demand from investors and first time buyers, has led to a constant upward pressure on prices at the bottom end of the ladder. The net result is relatively high entry prices for one-bedroom homes, compounding the affordability pressures faced by first time buyers.” He added: “Policymakers are clearly faced with some major challenges. The debate over increasing housing supply tends to be focused on the headline numbers with little emphasis on the types of housing that are needed. <br><br>One solution could be to increase the development of smaller sized housing as a means of boosting the first rung of …