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.
The figures presented in this release cover the first 12 months of the Help to Buy equity loan scheme, from the launch of the scheme on 1 April 2013 until 31 March 2014.
The title of the NewBuy scheme has been changed to ‘Help to Buy: NewBuy’, so that it can be grouped together with the government’s other schemes designed to help prospective home buyers - Help to Buy: equity loan and Help to Buy: mortgage guarantee. The figures presented in this release shows data from the launch of the NewBuy scheme on 12 March 2012 to 31 March 2014.
The main points were:
- in the first 12 months (to end March 2014) there were 19,394 properties bought with the support of the Help to Buy equity loan scheme
- the total value of these equity loans was £791 million, with the value of the properties sold under the scheme totalling £3.97 billion
- the average price of a property bought under the scheme was £184,995, with an average equity loan of £36,999
- the majority of home purchases in the Help to Buy equity loan scheme was made by first time buyers, accounting for 16,964 (87.5%) of total purchases
- for the NewBuy Guarantee scheme, 177 home purchases were made in quarter 1, 2014; this brings the total number of house purchases up to 5,173 since the launch of the scheme in March 2012
Subsequent releases will continue to be published on a quarterly basis. The fourth release will be published in July 2014.