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H2B creates 46 new homeowners a day

Ryan Fowler

January 28, 2014

And housing minister Kris Hopkins has welcomed the news and said that the figures have shown that the scheme is helping both aspiring homeowners and the wider construction industry.

Since the scheme’s launch just nine months ago, there have been 12,875 sales of newly-built properties through the Help to Buy: equity loan, with a further 6,446 sales in the pipeline.

The figures also show there are over 22,000 new homes reserved through the scheme.

Aspiring homeowners have been helped across the country: Leeds has the highest number of sales with 230 through the scheme since April, while Wiltshire, Central Bedfordshire, Milton Keynes and Manchester complete the top 5 areas.

Across the 32 London boroughs there were 810 Help to Buy sales – 6% of overall sales in the capital.

And around 90% of sales of newly-built homes through Help to Buy were to first-time buyers.

But Hopkins also welcomed the wider impact on the construction industry that the Help to Buy scheme is having, with leading developers pledging to build more as a direct result of it.

On top of this over 1,200 housebuilders have registered to participate in the scheme – 94% of which are small and medium-sized businesses.

Hopkins said: “I’m delighted that since the launch of Help to Buy: equity loan just nine short months ago, 12,875 new homeowners have been created – equivalent to 46 a day.

“But with each of these sales being a newly-built home, I’m also pleased that housebuilders are using this momentum to build more, getting workers back on sites and getting Britain building once again.

“All this is a key part of our long-term economic plan, helping bring housebuilding to its highest levels since 2007 and orders for construction materials at a 10-year high.”


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