FTBs continue to drive Help to Buy: equity loan scheme
There were 4,357 Help to Buy: equity loan completions in June alone, a 19% leap on the previous month. The average buyer price was £207,967 with more completions in Wiltshire, Leeds and Central Bedfordshire than anywhere else in the country. Most of the home purchases in the Help to Buy: Equity Loan scheme were made by FTBs, accounting for 23,167 (85%) of total purchases.
The figures for New Buy, the government’s first new-build support scheme launched in 2012 show 5,328 New Buy completions to June, which is offered by just six lenders.
Stewart Baseley, executive chairman of the Home Builders Federation said:
“Help to Buy is allowing people across the county to buy new build homes and if people can buy, builders can build. Indicators suggest increases in house building activity in the region of 25% and the past year has seen the steepest increase in new housing starts for around 40 years.
“The industry has recruited thousands of people in recent months and is working with its supply chain to ensure the capacity is there to sustain increases – all of which is giving the country a huge economic boost.
“To ensure increases are sustainable, central and local Government need to ensure the planning system responds accordingly and can meet demand in the long term.”
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