Help to Buy figures for Q2 2017
Commenting on the Help to Buy figures for this quarter, David Thomas, chief executive of Barratt Developments plc, said:
“The new figures demonstrate just how successful Help to Buy is, and how it is helping make home ownership more affordable. Whilst it is also available for second steppers, more than 80% of people using Help to Buy are first time buyers, with well over 100,000 people taking their first steps on the property ladder and moving into their own brand new home.”
The key findings from the latest data release are:
- Since the start of the scheme there have been 134,558 Help to Buy Equity Loans.
- 81% of loans have been to first time buyers – that’s 108,600 households.
- There were 13,690 loans in the 2nd quarter of 2017. This is the largest number since the scheme began.
- The Q2 completions for first time buyers were 11,069; Also the highest for this group since the scheme began.
- The average (mean) purchase price of a property bought using a Help to Buy Equity Loan is £240,530 and the average (mean) equity loan is £49,963
- Since February 2016, when the new 40% equity loan was introduced in London, 4,586 people have used the scheme in the capital, with 3,487 using a loan higher than 20%, and a mean purchase price of £451,712.
- 76% of purchasers have an income of £60,000pa or less – 64% have income of £50,000pa or less.
See the 10 Local Authorities in each region of England that had biggest increase in Help to Buy equity loans below.
East of England
Yorkshire & Humber
You can see more Help to Buy Q2 data from the Gov.uk website.
For more information on the Help to Buy scheme, please visit the Barratt Homes Help to Buy page.