Official statistics on the Help to Buy equity loan scheme and Help to Buy: NewBuy scheme.
This statistical release presents Official Statistics on the number of home purchases and the value of equity loans under the government Help to Buy equity loan scheme, as well as the number of purchases under the government’s Help to Buy: NewBuy scheme (formerly known as ‘NewBuy’).
It does not cover statistics regarding the Help to Buy mortgage guarantee scheme, for which statistics to 31 March 2014 have been published by HM Treasury.
The figures presented in this release cover the first 15 months of the Help to Buy equity loan scheme, from the launch of the scheme on 1 April 2013 until 30 June 2014.
The main points were:
- in the first 15 months (to end June 2014), 27,167 properties were bought with the support of the Help to Buy equity loan scheme
- the total value of these equity loans was £1.13 billion, with the value of the properties sold under the scheme totalling £5.65 billion
- the mean purchase price of a property bought under the scheme was £207,967, compared with a mean equity loan of £41,413
- the majority of home purchases in the Help to Buy equity loan scheme was made by first time buyers, accounting for 23,167 (85%) of total purchases
- for the NewBuy Guarantee scheme, 166 home purchases were made in quarter 2, 2014; this brings the total number of house purchases up to 5,388 since the launch of the scheme in March 2012
Subsequent releases will continue to be published on a quarterly basis. The fifth release will be published in October 2014.