Some 7,313 homes have been sold so far under the Help to Buy mortgage guarantee scheme, the Treasury says.

The figures are the first comprehensive measure of the scheme since it was launched late last year.

The numbers from the Treasury also show that 80% of the properties sold went to first-time buyers.

The majority of sales were outside London, which will help the government to argue that Help to Buy has not had a major effect on house prices.

Just 5% of sales under the mortgage guarantee scheme were in the capital, where prices have soared, and 14% in the South East.

The mortgage guarantee scheme is separate from the equity loan part of Help to Buy, which began in England 13 months ago. Scotland and Wales have separate equity loan schemes.


One senior economist said the figures showed that Help to Buy was not to blame for stoking up house price inflation.

The data provides “further evidence that government subsidies are playing little direct role in driving the current rapid rate of house price growth”, said Martin Beck, senior adviser to the EY ITEM club.

Full story via BBC News – Help to Buy: More than 7,000 homes sold under guarantee scheme.