Housebuilders call for revival of Help to Buy

The Home Builders Federation (HBF) has called for the revival of Help to Buy as part of efforts to ignite the slowing housing market and avert a dramatic plunge in the supply of new homes. Britain's housebuilders are writing to Jeremy Hunt to ask him to reintroduce help for first-time buyers at the budget in March, as Help to Buy ends after ten years. Final purchases under Help to Buy must be completed by the end of March and the HBF said this marked the end of 25 years of "continuous government intervention" in the market in various guises. The HBF, in a submission to the Treasury ahead of the budget, will argue that "the average deposit of a first-time buyer in 2021-22 was £43,693, an amount that for many, is simply unachievable". The industry wants a "new, targeted home ownership scheme for first-time buyers".

The Sunday Times (29/01/2023)