Varying availability of Help to Buy properties

Wed, 11 Mar 2015

Varying availability of Help to Buy properties
Despite the apparent popularity of the Help to Buy schemes, and the way they have enabled more houses to be built, there has still been a decline in the amount of homes that are available over the last year.

The number of available properties under the scheme saw a decline of 7.4 per cent, while the average price of the homes rose by 5.5 per cent.

The rate of these changes was not flat across the country however. The east of the country has seen a lot of decline in the number of properties available, with there now being 12.3 per cent less. In this area, the prices have climbed an average of 6.1 per cent.

But on the other hand, areas in the south have seen an increase of 5.4 per cent in availability.

The prices in London of the buildings qualifying for Help to Buy funding has risen by 11.7 per cent, possibly due to all the cheaper ones selling more easily, leaving the more expensive ones on sale before any more have been built to re-balance the local market.

"The Help to Buy scheme was intended as a leg up for first time buyers, but in some areas that footrest has since been pulled from under their feet," said Lawrence Hall, speaking behalf of Zoopla.

"Greater demand hasnít been met by greater supply of homes on the market, and instead the soaring price growth of the past year appears to have airlifted many properties out of the starter home sector."

So what do these confusing rise and falls mean? It seems that the availability and prices of the houses that are eligible for the Help to Buy scheme are fluctuating across the country, and that it has degenerated into something of a post code lottery as to whether there will be any available in a given area.

If you want to find out more information on the availability of properties in an area, contact the relevant Homebuy Agent.
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