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<p>Under this Government, new house building starts and first time buyers are at their
highest levels for nine years. The annual number of new homes started has doubled
from the level Labour left behind and there are 120,000 more First Time Buyers a year.
The Help to Buy Equity Loan scheme has played an important role by helping 134,000
households buy their own home since 2013 and approximately 80 per cent of these were
first time buyers. The scheme does not provide a subsidy to house builders but offers
a repayable loan to buyers of new homes.</p><p>In 2016 Help to Buy sales made up only
3 per cent of total house sales and an independent evaluation found no evidence to
suggest the scheme has driven up house prices. We want to see builders investing in
growing supply and have committed to work with the sector to consider the future of
the scheme beyond 2021.</p><p> </p><p> </p>
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