The price of the average starter home has risen by almost 19%, to £213,000, since the Government’s Help to Buy scheme launched around two years ago.
More first time buyers are now competing for a limited number of homes, insists property expert Henry Pryor. He says there is “little doubt” that it’s the scheme pushing up prices, and urges the Government to end the incentive.
He adds: “Turn the Help to Buy tap off and concentrate on providing more builders to build more homes.”1
1 Hedges, L. (2015) ‘Help to Buy ‘has driven up prices’’, Metro, 10 September, p.6