New data reveals how popular Help to Buy really is

Newly released research from Zoopla has shown that popularity of the government's Help to Buy scheme remains strong throughout most of England and shows where the country's Help to Buy hotspots are located.

Related topics:  Mortgages
Warren Lewis
6th December 2019
House sale sold

Using analysis of equity loans, Zoopla was able to determine that Wakefield in West Yorkshire, where the average house price for a new home stands at £221,740, is England’s biggest Help to Buy hotspot.

Wiltshire (unitary authority) came in second place, where the average price for a new-build home is £333,760 and County Durham made up the top three (£196,783 average value).

In the 12 months to Q2 2019, Wakefield continued to be the most popular area for Help to Buy loans, followed in second place by Central Bedfordshire, where the average price of a new build home is £389,884. In the same 12-month period, the Borough of Tower Hamlets (average new-build home £588,342) was home to the most Help to Buy loans in London followed by Barnet (£520,408).

Zoopla also analysed the year-on-year change to the amount of Help to Buy loans being secured and found that the Borough of Waltham Forest, where the average price of a new-build is £422,879, was home to the biggest increase (241.3%). Meanwhile the local authority of Havant in Hampshire saw the biggest decrease in Help to Buy loans (-72%).

Most Help to Buy loans (All time)

Most Help to Buy mortgages (12 months until (and including) Q2 2019)

Biggest increase of Help to Buy mortgages YoY

Biggest decrease of Help to Buy mortgages YoY

Alex Rose, Director of New Homes, Zoopla, said: “Whilst it might be presumed that first-time buyers only use Help to Buy in markets with stretched affordability such as London, our analysis shows that its popularity spans the entire country.

Without doubt, the scheme has unlocked home ownership for many first-time buyers across England and, in some instances, has enabled them to access larger properties – in effect skipping that first rung on the property ladder and going straight to the second step.”

 

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