The Department for Communities and Local Government housing market statistical release on 30 April reported the continued success story of the government’s Help to Buy: Equity Loan scheme
It was the seventh release covering Help to Buy: Equity Loan and confirmed that in the first two years of the scheme (to 31 March 2015), 47,018 properties have been bought with an equity loan.
The total value of these equity loans was £1.99 billion and the value of the properties sold under the scheme totaled £10.01 billion. The mean purchase price of a property bought under the scheme was £212,932.
Most of the home purchases in the Help to Buy: Equity Loan scheme were made by first-time buyers. This accounted for 38,703 (82 per cent) of total purchases.
By David Mote, Editor