Help to Buy Scheme is thriving in the West Midlands

Posted: 25/07/2013

The Help to Buy Scheme has boosted house sales in the West Midlands and the area has accounted for 1,873 out of 6,899 newly built homes that have been reserved across England!

The reason why the Help to Buy Scheme is helping the property market in the West Midlands is because a lot of new build development sites are flourishing where old car factories once lay. The sites where the developments seem to be blossoming most is Birmingham, Coventry and the Black Country.

The appeal of the Help to Buy Scheme is the fact that there is no income bracket and it also does not limit the type of people who can apply for the scheme because it is open to low income and high income as well as single people, couples and families. Mostly first time buyers have used the Help to Buy Scheme but some home owners who are also keen to move have utilised the scheme.

Thanks to the ever blooming development sites, house prices are set to rise above the average property price of £130,432. However, the housing crisis has not come to an end yet. According to the Government 240,000 new homes had to be built in a year to support the demand for housing to accommodate the country’s population however, only 108,190 have actually been built within the financial year.

Have you purchased a hourse or do you have a reservation on a house using the Help to Buy Scheme? How have you found the process?

Amanda McGovern, Pali Ltd
www.paliltd.com

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