Over 5000 homes bought thanks to Help to Buy

Fri, 22 Nov 2013

Over 5000 homes bought thanks to Help to Buy
5,375 new homes have been bought in the first six months of the government's Help to Buy scheme, according to statistics released by the government. 

The overwhelming majority of homes - 92 per cent - were sold to first-time buyers

The figures, released by the Department for Communities and Local Government (DCLG), revealed that the last three months have seen the fastest rate of house building since 2008. 

Kris Hopkins, housing minister for the DCLG, said: "We’ve introduced a series of initiatives to help build more affordable homes and give hard-working people a helping hand up the housing ladder."

In the first seven months of Help to Buy being launched, over 18,000 reservations were made for new houses. Taylor Wimpey last week revealed that it had sold all its new houses for 2013. 

The average price of the properties sold in the scheme in the six-month period was £197,167; considerably below the UK average house price of £247,000 in August 2013.

Mr Hopkins commented that while these figures were pleasing, there was "still more to do, and improving the housing market will remain a top priority".
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