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. It does not cover statistics regarding the Help to Buy mortgage guarantee scheme.
The figures presented in this release cover the first 10 months of the Help to Buy equity loan scheme, from the launch of the scheme on 1 April 2013 until 31 January 2014.
It subsumes the previous statistical releases on the Help to Buy: NewBuy scheme as it covers a similar government scheme that supports home ownership. The figures presented in this release shows data from the launch of the Help to Buy: NewBuy scheme on 12 March 2012 to 31 December 2013.
The main points were:
- in the first 10 months (to end January 2014) there were 14,823 properties bought with the support of the Help to Buy equity loan scheme
- the total value of these equity loans was £600 million, with the value of the properties sold under the scheme totalling £3.01 billion
- the average price of a property bought under the scheme was £184,000, with an average equity loan of £36,599
- the majority of home purchases in the Help to Buy equity loan scheme was made by first time buyers, accounting for 13,112 (89%) of total purchases
- for the Help to Buy: NewBuy scheme, 528 home purchases were made in quarter 4, 2013; this brings the total number of house purchases up to 4,876 since the launch of the scheme in March 2012
Subsequent releases will continue to be published on a quarterly basis. The third release will be published in May 2014.