Housebuilders pledge to build more homes
Reservations totalling 12,500 have been made through Help to Buy up to the end of August and the scheme is on target to deliver the 74,000 homes intended over the next years.
Stewart Baseley, Home Builders Federation executive chairman, described the scheme as an unqualified success.
He said: “All the signs are that the next couple of months will see a significant number of people realising their ambition of home ownership.”
Mark Clare, chief executive of Barratt, said: “Customer interest in Help to Buy has been very strong. We are now preparing for further growth and have committed £1bn to land investment for new homes and we’re expanding the business by taking on 600 new apprentices and graduates.”
Jeff Fairburn, Persimmon chief executive, endorsed this view saying his firm has increased build activity while Taylor Wimpey boss Pete Redfern said the increase in demand had given the company confidence about investing in future sales.
Housing Minister Mark Prisk said: “I’m delighted that developers have pledged to use this momentum to increase output and get Britain building again.”
But Baseley tempered the praise for the scheme by issuing a word of caution to the government minister.
He said that if this improvement is going to lead to a significant and sustained increase in housing supply then ministers still need to act “on the other constraints on supply, a lack of land and excessive regulatory costs”.