The Coalition government Help to Buy programme is transforming the Housing Market in the North East
Help to Buy, our policy to cut the cost of a deposit for a house, is helping tens of thousands of people buy their own home:
Since 2013, over 88,000 people have purchased their own home with Help to Buy
Over 80% of those are first-time buyers
The average price of a Help to Buy home is £185,000, far below the national average – showing that the policy is helping those who need it most
94% of Help to Buy sales have been outside London – showing that it’s a policy that benefits the whole country
Over half of Help to Buy homes have been new-builds – an encouraging sign that, with the economy growing, housebuilders have the confidence to build more homes
These strong figures follow our commitment to build 200,000 new Starter Homes for first-time buyers, and the news that enough public-sector land has been made available to build over 100,000 new homes in England. Humbles Wood in Prudhoe is a great example of this; I have met couples there who have benefitted from this great government scheme. Help to Buy is working to provide great new homes to local people.
Our plan for housing is helping more people achieve their dream of owning their own home and giving security to hardworking families across the country.