55% of home buyers who are using the Help to Buy scheme have been found to come from the private rented sector, according to some recent research from Countrywide.

The scheme was targeted at first time buyers, people who are currently renting or have not yet moved out of their parents’ house. This figure shows that the majority of cases involves people who are renting. Furthermore, about 305 of buyers previously lived with family members, showing that the scheme is getting people who otherwise wouldn’t have gotten onto the property ladder, onto it.

It also found that the average Help to Buy homebuyer had an income of £41,000 per year whereas 35% of renters are on a salary less than £30,000.

In addition, the data indicates that under a fifth of the purchases were made in London and the south east, indicating that the property bubble people fear can’t be forming as a result of London sales.

“Given that the scheme is fully funded by the government, it is important that those using it would otherwise find it difficult to buy without assistance. This has almost exclusively been the case with the majority of purchasers coming from the private rented sector or the parental home,” said Nigel Stockton, Countrywide Group financial services director.