Forward sales at housebuilder Barratt had risen by almost one third to around £1.3bn in the 18 weeks to 5 May, supported by the launch of the government’s Help to Buy scheme.
The scheme was introduced by George Osborne only a month prior, but Barratt noted the jump in forward sales equated to 4,373 plots, rising by 28.5% from £788.6m during the same period in 2012.
Despite its extension, Help to Buy officially ended on 31 March 2023, with property experts calling for a replacement scheme to support first-time buyers as well as SME developers.
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