Developers promise to build more homes
Help to Buy is having a particular impact on the construction industry and developers have recently promised Housing Minister Mark Prisk that they will continue to build more new homes.
In the five months to the end of August, purchasers made over 12,000 reservations on new homes and developers project that around 75,000 new homes will be built during the three year life of the scheme.
Stewart Baseley, executive chairman of the Home Builders Federation, said: “Help to Buy has been an unqualified success. It is addressing a lack of mortgage availability – the main constraint on the market – and if people can buy, builders can build.”