Over 27,000 households have bought a home through one of the Help to Buy schemes.
More than 24,500 households have bought new build homes through the Help to Buy: equity loan and Help to Buy: NewBuy schemes. There have also been over 2,500 sales through Help to Buy: mortgage guarantee.
Over 87 per cent of completed sales under the equity loan, and 82 per cent under the mortgage guarantee, have gone to first-time buyers, while the average price of a home was £185,000 under the equity loan and £148,000 under the mortgage guarantee: far below the national average.
The latest statistics show starts on new homes in 2013 were at a six-year high, with starts on homes for private sale up 29 per cent since the launch of Help to Buy: equity loan, compared to the same period the year before.
Sales of new build homes have been strong across the country:
- for the equity loan the highest number of completed sales were in Leeds with 337, Wiltshire with 316 and Central Bedfordshire with 287
- Milton Keynes, Peterborough, Bradford, Manchester, Country Durham, Bedford, Birmingham, Aylesbury Vale, Kingston upon Hull and South Gloucestershire have all achieved over 200 sales
- for Help to Buy: NewBuy the highest number of sales were in County Durham with 110, Gateshead with 84 and Basingstoke and Deane with 83
Housing minister Kris Hopkins said: “Thousands of people have now achieved their dream of becoming homeowners through Help to Buy. Hard working families are getting the homes they want, while housebuilding is at its highest level since 2007 and climbing.
“It’s clear evidence our long-term economic plan is working. But there is still more to do, and we will continue to prioritise resources to improve the housing market.”
