Help To Buy Scheme Assists 47,000 Buyers
47,000 People Use Help To Buy Scheme
The UK government has released data to show that the just over 47,000 properties have been purchased through the "Help To Buy" scheme. The scheme was introduced just over two years ago and appears to be helping the very buyers it was designed for.
Because there is a cut off price at which the scheme can be used of £600,000 which means that the scheme is being used by many first time buyers. Of the 47,000 sales that have already completed 82% of those were to first time buyers.
The average purchase price of a home being purchased is £212,000 which highlights the benefits of the scheme to buyers outside of London and the south-east. the top local authorities that have benefited from the scheme has been Wiltshire, Leeds, Central Bedfordshire, Peterborough and Milton Keynes.
The data released appears to contradict the belief that the property market is being driven by Help To Buy. The scheme appears to be helping first time buyers in areas where house prices are below the national average.