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Sun June 13 2021

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Government seeks credit for housing market upturn

6 Sep 13 Latest government figures reveal that by 30 June 2013 there had been 3,749 home purchases completed under the NewBuy Guarantee scheme in England.

"We've bought a home"
"We've bought a home"

In the quarter between 01 April and 30 June 2013, there were 1,460 home purchases, representing the strongest quarterly sales under NewBuy since the scheme started. The spring quarter figure was roughly double the total for the previous quarter.

By 30 June 2013 government’s liability had increased to £38.4m but it had to yet incur any cost.

NewBuy was launched in March 2012. The scheme has more recently been complemented by the Help to Buy: Equity Loan scheme, which in its first four months has seen over 3,000 sales and 10,000 reservations, the government said.

Housing minister Mark Prisk welcomed the latest data, which he said “clearly show the housing market is moving again”.

He added: “And with the Help to Buy: Mortgage Guarantee coming into force from this January, I expect to see even more people benefit from the support we’re making available.”

Latest house-building figures show there were 29,510 new homes started between April and June this year – a third higher than the same period in 2012.

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