Despite all the controversy, Help to buy has been shown to have produced the boom of first time buyers that it was designed to.
The rate of first time buyers getting onto the property ladder has increased by almost 50% compared to figures from last year.
An independent study by several estate agents showed that the amount of people who entered the housing market in April this year who were first time buyers was 26,300, a 47% increase on the previous April.
So according to these figures, Help to Buy is doing exactly what it was intended to do when the two parts were introduced in April and October last year. Fears of the effects of its success are still rife, with Vince Cable recently claiming that the Help to Buy scheme was fuelling a “raging housing boom” in London, but a look at the figures of sales shows that only 5% of Help to Buy Sales were in or around the capital.
“Help to Buy has helped thousands of hardworking people to buy a new home and crucially it is helping to increase the number of new homes being built around the country. It is an important part of our long term plan to back those who want to get on and to secure a better future for Britain” so said David Cameron, indicating the scheme won’t be cut short any time soon.