22.06.2021
The New Homes Index has tracked new home buyer searches across England during May, its findings reveal that first-time buyer demand for help-to-buy properties has surged by 19% since the new scheme came into effect 1 April 2021. A sign that the new help-to-buy scheme, which requires new entrants to homeownership to put down a 5% deposit, is helping first time buyers to make the most of lockdown savings to get on to the property ladder.
• Help-to-buy new home demand searches jumped during May by 19%.
• Average help-to-buy property prices across all regions continue to stay below the government’s help-to-buy scheme price caps. This provides reassurance to first-time buyers now able to benefit from the scheme.
Daniel Hill, Managing Director, WhatHouse? comments:
“Spring is traditionally the new housing markets busiest time. This year, it comes after months of lockdowns and restrictions when many would-be first-time buyers have had time to knuckle down with saving for a house deposit. The help-to-buy scheme’s requirement of 5% deposit seems to be making all the difference, and we’re seeing high-volumes of first-time buyer searches as home ownership becomes attainable”.
Region
Price Cap
Average help-to-buy new property price
East Midlands
£261,900
£240,213
East of England
£407,400
£292,456
London
£600,000
£427,800
North East of England
£186,100
£134,543
North West of England
£224,400
£161,113
South East of England
£437,600
£316,620
South West of England
£349,000
£281,996
West Midlands
£255,600
£180,529
Yorkshire & The Humber
£228,100
£169,170
Stewart Baseley, Executive Chairman, House Builders Federation said:
“Even with a lower proportion of homes being purchased with Help to Buy, builders in all price brackets are reporting very high levels of interest from consumers, demonstrating confidence in the product and the industry with consumers increasingly recognising the benefits of new homes over older properties.”
Notes to Editors:
The WhatHouse? New Homes Index is based on data sourced from the WhatHouse? New Homes audience platform. The Index is compiled using a sample representing approx. 400,000 new home buyer searches across England, Scotland and Wales per year and its findings are reflective of WhatHouse? user experiences and geographic market share.
About WhatHouse?
Whathouse.com is the UK’s leading new home audience platform. For more than 30 years’ its aim has been to inspire UK homebuyer decisions around new property. With a comprehensive directory of over 7,000 new homes, from the UK’s most celebrated housebuilders, WhatHouse? makes it easy for buyers to consider the diverse range of property developments available and to find their perfect new home match.
The annual WhatHouse? Awards started out back in 1980 and will mark its 41st birthday at an extraordinary industry event, sponsored by BritishVolt, in November 2021. Dubbed ‘the Oscars of the housebuilding industry’, the awards send a panel of expert judges to every corner of the UK to find winners within over 20 categories including Best Starter Home Project, Best Sustainable Development, and the coveted Housebuilder of the Year title.
Contact our press team:
WhatHouse? Online Press Centre
Call Jill Willis: 07855 409970
Email: [email protected]
Call Jill on: 07855 409970 Email: [email protected]