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Help-to-buy new homes help first time buyers get on the ladder 

Press release: 17.10.2021

The Whathouse? New Homes Index has tracked Help to Buy average new build prices across Britain during July, it’s finding reveal that prices are comfortably below the regional price cap limits in all regions.    A sign that concerns over the new help-to-buy scheme, which came into effect 1 April 2021, and potential lack of affordability are not playing out.  This provides reassurance to first-time buyers now able to benefit from the scheme, with many having made the most of lockdown to save the 5% deposit required to get on to the property ladder.

Average Help to Buy New Build Price- July 2021

Region

Price Cap

Average Help to Buy New Build Price

East Midlands

£261,900

£224,166

East of England

£407,400

£324,681

London

£600,000

£448,279

North East of England

£186,100

£161,239

North West of England

£224,400

£196,883

South East of England

£437,600

£317,907

South West of England

£349,000

£250,054

West Midlands

£255,600

£226,406

Yorkshire & The Humber

£228,100

£181,920

 

Daniel Hill, Managing Director, WhatHouse? comments:
“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”.

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]

Contact our press team

Call Jill on: 07855 409970
Email: [email protected]

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