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, which have been published by HM Treasury.
The figures presented in this release cover the first 2 years of the Help to Buy equity loan scheme, from the launch of the scheme on 1 April 2013 until 31 March 2015.
The main points were:
- in the first 2 years (to end March 2015), 47,018 properties were bought (legal completions) with the support of the Help to Buy: equity loan scheme
- the majority of sales with support from Help to Buy: equity loan scheme were to first-time buyers, accounting for 38,703 (82%) of total purchases
- the average (mean) purchase price of a property bought under the Help to Buy: equity loan scheme was £212,932, compared with a mean equity loan of £42,394
- the top 6 local authorities in terms of completed sales are Wiltshire (816), Leeds (761), Central Bedfordshire (735), Peterborough (644), Milton Keynes (621), and County Durham (596). For the NewBuy Guarantee scheme, 17 home purchases were made in quarter 1 2015; this brings the total number of house purchases up to 5,706 since the launch of the scheme in March 2012
Further breakdowns of cumulative sales under the Help to Buy (equity loan) scheme is available from Open Data Communities.
This allows users to quickly and easily navigate local level data. The figures cover the first 2 years of the scheme, from the launch of the scheme on 1 April 2013 until 31 March 2015, with breakdowns available:
- by local authority
- by Parliamentary Constituency (for the 93% of sales where the property’s postcode does not straddle a constituency boundary); figures have been attributed to an individual constituency by reconciling data against the ONS Postcode Directory (May 2014) where possible - figures for some constituencies may be subject to revision later in the year
- by postcode sector (eg NN9 5..), shown only for postcode sectors with 3 or more cases, to minimise the possibility of individual households being identified (for the 89% of sales occurring in postcode sectors with 3 or more cases)
- by postcode district (eg NN9 …), shown only for postcode districts with 5 or more cases, to minimise the possibility of individual households being identified (for the 98% of sales occurring in postcode sectors with 3 or more cases)
The next monthly release will include activity to 30 June 2015, and will be published in September 2015.
A mapping application drawing directly on data from Open Data Communities is also available.