In her annual address, the Queen revealed that the Help to Buy scheme shows no signs of being stopped, and that the “ministers will continue to promote the Help to Buy and Right to Buy scheme to support home ownership.”

Apparently only 19% of mortgage applications under the Help to Buy Scheme were from London and the South West, implying that the fears of a housing bubble as a result of the expensive properties in this area are unfounded, especially as these were all on homes worth an average of £152,000.

Around 40,000 homes have been bought using the Help to Buy Equity Loan and Mortgage Guarantee schemes.

This goes against the announcements that the Help to Buy scheme would be pared back should Mark Carney, the governor of the Bank of England, give the word that it is causing damage to the housing market.

Fears other than the housing bubble it may cause include suggestions that Help to Buy may become a fundamental part of the housing market. Rather than being a scheme to help people get onto the housing market, it could become a norm for first time buyers to use it, and make it difficult to end the scheme in the future without disrupting the housing market.

Even in the face of the European Commission warning off the Help to Buy Mortgage Guarantee scheme, it doesn’t seem to be ending any time soon.