The Department for Communities and Local Government has announced that since the launch of the Help to Buy scheme, over 150,000 people have been supported in becoming home owners.
According to government figures, the Help to Buy equity loan and mortgage guarantee scheme enabled: over 150,000 completions, with 80 per cent having been made by first-time buyers; the average house price was £188,380 significantly below the national average; 95 per cent of Help to Buy completions took place outside of London; and over half of Help to Buy completions have been for new-build homes.
The programme was launched in 2013 to ensure that working people were able achieve their aspiration of buying their own home. Of the 150,000 people, 118,000 homes were bought by first time buyers.
Commenting on the figures, Greg Clark, Communities Secretary, said: “Anyone who works hard and aspires to own their own home should have that opportunity and for many people Help to Buy is turning that dream into reality.
“Increased confidence coupled with our clear ambition to deliver one million new homes is leading to more housebuilding with the numbers of new homes at a seven year high. Government-backed schemes are helping an increasing number of people to realise that home ownership is realistic for them.”
Housing Minister Brandon Lewis said: “Help to Buy has now helped more than 150,000 people across the country achieve their aspiration of buying a new or bigger home. These figures show the continued success of Help to Buy in supporting many hardworking people who want to buy their own home.
"We know there is more work to be done to get the homes built people want but it is great news that people are really taking the opportunities available and getting into ownership.”
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