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Construction News
31/07/2014
Almost 40,000 Households Benefit From Help to Buy Scheme
Almost 40,000 households have bought a home through Help to Buy scheme.
New figures published show over 32,500 households buying new build homes through the equity loan and NewBuy options, with a further 7,300 sales though the mortgage guarantee.
Over 80% of sales have gone to first time buyers and been for new build homes. The direct result is a new generation of homeowners and a 34% increase in private housebuilding during the first year of the scheme.
Housing and Planning Minster Brandon Lewis said: "Almost 40,000 households have now achieved their dream of becoming homeowners through Help to Buy. Hard working families are getting the homes they want, while housebuilding has increased to its highest level since 2007.
"It's no accident that since the start of the scheme private housebuilding has shot up by a third and continues to climb. Developers are increasing their output, and taking on new workers at the fastest rate since records began.
"And today, for the first time, we're publishing post-code level data about the scheme, so communities can see exactly how this vital part of our long-term economic plan is improving the housing market and helping their area."
(CD/MH)
New figures published show over 32,500 households buying new build homes through the equity loan and NewBuy options, with a further 7,300 sales though the mortgage guarantee.
Over 80% of sales have gone to first time buyers and been for new build homes. The direct result is a new generation of homeowners and a 34% increase in private housebuilding during the first year of the scheme.
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Housing and Planning Minster Brandon Lewis said: "Almost 40,000 households have now achieved their dream of becoming homeowners through Help to Buy. Hard working families are getting the homes they want, while housebuilding has increased to its highest level since 2007.
"It's no accident that since the start of the scheme private housebuilding has shot up by a third and continues to climb. Developers are increasing their output, and taking on new workers at the fastest rate since records began.
"And today, for the first time, we're publishing post-code level data about the scheme, so communities can see exactly how this vital part of our long-term economic plan is improving the housing market and helping their area."
(CD/MH)
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