Is Help to Buy The Reason to Behind Recovery

Help to Buy has given the housing market a much needed kick up the backside since it launched last year.

Already it is credited with giving a kick start to those first time buyers who were few and far between in recent years.

Now it has been revealed that Help to Buy has created 46 new homeowners every day since its launch.

Housing Minister Kris Hopkins said the figures were a sign of how the scheme was helping both aspiring homeowners and also the wider construction industry as more homes were built in response to this growing demand.

Around 90% of sales of newly-built homes through Help to Buy were to first-time buyers.

Hopkins said: “I’m delighted that through the Help to Buy scheme, we’ve helped thousands of hard-working people realise their dream of becoming homeowners, getting onto the property ladder using this valuable alternative to the Bank of Mum and Dad.

“But the Help to Buy scheme offers more than that: because each home sold is a new-build, we’re also getting Britain building, with workers returning to sites across the country and helping bring housebuilding to its highest levels since 2007.”

But is Help to Buy enough to generate real momentum and what will happen when the scheme ends?