London hasn’t warmed up to the government’s Help to Buy scheme, according to fugures produced by the Treasury.
Only 5% of total mortgage completions using the scheme were for homes in London. South-east, on the other hand, accounted for 14%.
Between October 2013 and the end of March 2014, roughly 500,000 homes were bought in the UK through the scheme.
Take a look at the stats:
1. 27,861 households have been helped by the scheme
2. First-time buyers accounted for 85% of sales
3. Average price of a property purchased or mortgaged through Help to Buy up to the end of March was £151,597
4. 94% of those supported by Help to Buy live outside London
5. The scheme is supporting a higher proportion of mortgages in the North West and the East