The Isle of Wight has had the least property sales from Help to Buy equity loans in the whole of England, according to figures from the Ministry of Housing, Communities and Local Authority.
Over 169,102 completed Help to Buy equity loan purchases have been made since 2013, with 5,895 of those being in the South East. However, over the past 5 years the number of properties sold on the Isle of Wight using the Help to Buy scheme totals just 187 – maybe somewhat unsurprisingly.
81% of total purchases have been made by first-time buyers, and although it has been announced that the scheme is set to run until 2021, it has been under scrutiny with claims it is enabling people who can afford to buy without the equity loan to climb onto the property ladder with just a 5% deposit; thus driving up property prices as a result.
Homelessness charity Shelter analysed the increased amount of mortgage lending in correlation to the scheme and concluded Help to Buy has increased the average home price by £8,250.
As a result, housing experts at Fasthomes.org have collated data from ‘Help to Buy (Equity Loan scheme) and Help to Buy: NewBuy statistics: Data to 31 March 2018, England’ by The Ministry of Housing, Communities and Local Authority to determine which areas of England have had the most and least completed Help to Buy equity loan property purchases.
The data was obtained by establishing which unitary authorities and county councils govern each county within England and then compiling the number of completed Help to Buy purchases from each governing body to work out the total sum within each region and sub counties.
