Demand for Help to Buy and Shared Ownership higher than ever

on 29 July 2021

According to reallymoving’s data, First Time Buyers are using government schemes more now than ever to help them onto the housing ladder. Shared Ownership is the most popular option, accounting for 10.1% of all First Time Buyer transactions last year, compared to 7.1% opting for a Help to Buy loan.

Facing the combined challenges of rising prices post-lockdown and the shrinking of the First Time Buyer mortgage market in response to the pandemic, First Time Buyers are required to raise an additional £10,800 according to Halifax, bringing the average deposit paid by new buyers in the UK up to £57,279 compared to £46,449 in 2019. Consequently, demand is being funnelled into the new build market where government schemes require a deposit of just 5%.

Read more on these statistics in this article by Show House.