Over 73,000 homes have been bought under the government’s Help to Buy schemes.
Latest figures include:
- 38,052 households helped into new build homes under the Help to Buy (equity loan) scheme up to November 2014, up 2,099 on October 2014. of these 83% are first time buyers (31,640) rising to 94% outside London
- 30,269 households buying new and existing homes through Help to Buy: mortgage guarantee
- 5,518 households supported into a new build home through the NewBuy scheme
In total more than 73,000 households have been helped under government schemes up to November 2014.
The figures published today show more than 38,000 households have been supported by the government’s Help to Buy (equity loan) scheme, with the average price of homes under the scheme £212,000, well below the £271,000 UK average.
The scheme has also brought down the average deposit needed.
Government schemes represent only part of the total, with Halifax figures this week showing 326,500 first time buyer purchases last year, up 22% on 2013.
Some of the main towns and cities benefiting from the Help to Buy (equity loan) scheme are as follows:
- Leeds – 628 sales
- Milton Keynes – 516 sales
- Peterborough – 512 sales
- Birmingham – 465 sales
- Bedford – 454 sales
Brandon Lewis, Housing and Planning Minister, said: “Our long-term economic plan has turned this country around from the one we inherited, suffering from a crashed economy and a housing market where builders wouldn’t build, lenders wouldn’t lend and buyers couldn’t buy. Now numbers of first-time buyers are at their highest since 2007, housebuilding continues to climb and planning permissions are at record levels.
“All these measures combined are helping record numbers of people into a new home, including 73,000 households benefiting from Help to Buy and we will keep striving to get that total even higher.”