7,300 North West homeowners created through Help to Buy

 The Help to Buy schemes have created over 7,300 homeowners in the North West, Housing Minister Brandon Lewis announced today.

The new figures show how Help to Buy is helping more and more people onto the property ladder and getting more homes built, with nearly 4,800 households buying new-built properties through the Equity Loan and NewBuy options, and over 2,500 using the Mortgage Guarantee.

House building and the Help to Buy schemes are key parts of the government’s long-term economic plan.

Around eight out of ten sales went to first time buyers across the UK and, as a direct result, thousands of new home owners were created and private house building projects rose by a third.

House building has climbed to the highest level since 2007, construction output has seen the sharpest expansion for eight months, and companies are now taking on workers at the fastest rate since 1997.

Housing Minister Brandon Lewis said:

“Today’s figures clearly demonstrate the continuing success of the Help to Buy in supporting creditworthy, hardworking people who want to buy a home of their own.

“Over 54,000 new homeowners have now used the schemes as a valuable alternative to the Bank of Mum and Dad, enabling them to buy with a fraction of the deposit they would normally require.

“But it’s also got Britain building and since the scheme’s launch private house building projects have increased by a third.”

Across the UK:

  • 33,911 sales have been completed in the first 18 months of the Help to Buy: equity loan scheme
  • 18,564 sales have been completed under Help to Buy: mortgage guarantee scheme; 15,091 of which were in England (between 8 October 2013 and 31 August 2014)
  • 5,518 sales have been completed under Help to Buy: NewBuy (up to 30 September 2014)
  • the average price of a home is below the national average: £210,000 under the equity loan and £153,000 under the mortgage guarantee

The following table lists the figures for the North West:

Local Council Area

Equity Loan

NewBuy

Mortgage Guarantee

Total

Cheshire East 217 12 116 345
Cheshire West and Chester 301 28 120 449
Halton 115 20 70 205
Warrington 181 48 82 311
Cheshire 814 108 388 1,310
Allerdale 52 18 18 88
Barrow-in-Furness 11 0 40 51
Carlisle 42 22 29 93
Copeland 16 6 31 53
Eden 15 1 1 17
South Lakeland 11 3 23 37
Cumbria 147 50 142 339
Bolton 107 20 118 245
Bury 86 32 94 212
Manchester 365 27 100 492
Oldham 112 1 61 174
Rochdale 181 28 49 258
Salford 204 21 99 324
Stockport 27 13 117 157
Tameside 110 34 87 231
Trafford 44 8 75 127
Wigan 188 30 187 405
Greater Manchester 1,424 214 987 2,625
Blackburn with Darwen 71 12 38 121
Blackpool 10 0 53 63
Burnley 87 2 41 130
Chorley 240 35 46 321
Fylde 50 3 26 79
Hyndburn 20 4 26 50
Lancaster 60 6 51 117
Pendle 3 0 27 30
Preston 22 5 52 79
Ribble Valley 37 3 16 56
Rossendale 34 5 31 70
South Ribble 128 8 67 203
West Lancashire 55 6 36 97
Wyre 87 8 33 128
Lancashire 904 97 543 1,544
Knowsley 167 16 40 223
Liverpool 318 55 124 497
Sefton 137 23 76 236
St. Helens 223 26 76 325
Wirral 62 9 137 208
Merseyside 907 129 453 1,489
North West 4,196 598 2,513 7,307

 

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