Help to Buy schemes help 27,000 households so far: DCLG
Over 27,000 households have bought a home through one of the Help to Buy schemes, Housing Minister Kris Hopkins announced today.
New figures published today reveal over 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.
Mr Hopkins said today’s figures were clear evidence that Help to Buy is creating a new generation of homeowners and supporting the construction industry, which is building more homes in response to growing demand.
Over 87% of completed sales under the equity loan, and 82% 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 6-year high and climbing, with starts on homes for private sale up 29% since the launch of Help to Buy: equity loan, compared to the same period the year before.
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