UK: The Help to Buy Hotspots for first-time buyers
By James Lockett From Proper PR
Research by MoveStreets, the property portal designed for the mobile generation, has revealed which areas of the nation offer the highest levels of Help to Buy availability for first-time buyers, as well as where the scheme is highest in demand.
MoveStreets analysed current property stock listed across each county and how many of these homes offer Help to Buy eligibility for those in need of a leg up onto the property ladder.
Help to Buy Availability
Of the half a million homes currently for sale across the nation, there are almost 10,000 offering the additional help of the Help to Buy equity loan scheme – just 1.8% of total property stock. Demand is also high, with 32% of these having already been marked as under offer or sold subject to contract.
The best chance of snagging a Help to Buy home is in Suffolk. 3.6% of all homes listed for sale in the county are eligible under the scheme, the highest stock level of all counties.
Buckinghamshire is also home to one of the highest levels of Help to Buy housing stock currently for sale on the market. 3.4% of all homes qualify for the scheme, followed by Cambridgeshire (3.3%), Norfolk (3.3%) and Bedfordshire (3.1%).
Three per cent of total for sales stock in Surrey, Bristol and Berkshire is also available via Help to Buy, while Northumberland (2.9%) and Somerset (2.8%) complete the top 10.
Highest Demand for Help to Buy
In terms of the highest demand for the scheme from first-time buyers, it’s the Isle of Wight that ranks top. 66.7% of all Help to Buy homes on the island have already been sold subject to contract or are under offer.
Norfolk (61.2%) and Wiltshire (60%) are also home to Help to Buy demand levels of 60% or more, while Cheshire (59.1%), Dorset (58.3%), West Sussex (56%), Bath and North East Somerset (54.5%), Bristol (51.9%), Rutland (50%) and Lincolnshire (49.7%) also rank within the top 10.
CEO and Co-Founder of MoveStreets, Adam Kamani, commented:
“With house prices hitting all-time highs, it’s fair to say the nation’s first-time buyers are facing the toughest challenge yet when it comes to getting that first foot on the property ladder.
The good news is that they still have the helping hand of Help to Buy but as our research shows, buyer demand for homes that qualify for the scheme is high and they can be fairly hard to come by.”
| Table shows demand for Help to Buy eligible homes and the stock levels avaiable | ||
| County | Help to Buy Demand | Help to Buy Stock Availability |
| City of London | x | 0.0% |
| Isle of Wight | 66.7% | 0.5% |
| Norfolk | 61.2% | 3.3% |
| Wiltshire | 60.0% | 2.3% |
| Cheshire | 59.1% | 0.7% |
| Dorset | 58.3% | 1.9% |
| West Sussex | 56.0% | 2.7% |
| Bath and North East Somerset | 54.5% | 0.9% |
| City of Bristol | 51.9% | 3.0% |
| Rutland | 50.0% | 1.9% |
| Lincolnshire | 49.7% | 1.8% |
| Bedfordshire | 48.1% | 3.1% |
| Merseyside | 47.4% | 0.2% |
| Somerset | 42.2% | 2.8% |
| Hampshire | 42.1% | 1.4% |
| Devon | 42.1% | 1.2% |
| Kent | 40.4% | 1.5% |
| Cambridgeshire | 40.4% | 3.3% |
| East Sussex | 39.8% | 1.5% |
| Cornwall | 39.5% | 0.8% |
| Essex | 36.0% | 0.9% |
| Greater Manchester | 35.5% | 1.6% |
| Suffolk | 35.0% | 3.6% |
| Surrey | 32.7% | 3.0% |
| Shropshire | 32.2% | 2.3% |
| South Yorkshire | 28.7% | 1.6% |
| Buckinghamshire | 27.9% | 3.4% |
| Hertfordshire | 27.8% | 2.2% |
| Berkshire | 25.4% | 3.0% |
| Nottinghamshire | 24.5% | 1.7% |
| East Riding of Yorkshire | 23.9% | 2.5% |
| Derbyshire | 23.9% | 1.5% |
| Oxfordshire | 23.8% | 2.8% |
| Northamptonshire | 23.4% | 2.5% |
| Greater London | 22.8% | 2.4% |
| Gloucestershire | 21.3% | 1.7% |
| West Yorkshire | 21.1% | 0.4% |
| Staffordshire | 20.0% | 2.7% |
| Durham | 20.0% | 1.7% |
| Herefordshire | 20.0% | 0.8% |
| West Midlands (county) | 19.7% | 0.9% |
| Lancashire | 17.5% | 0.7% |
| Cumbria | 16.7% | 2.3% |
| Worcestershire | 14.3% | 0.4% |
| North Yorkshire | 13.1% | 1.4% |
| Tyne and Wear | 8.5% | 1.1% |
| Leicestershire | 8.3% | 0.6% |
| Warwickshire | 5.8% | 1.4% |
| Northumberland | 5.3% | 2.9% |
| England | 31.8% | 1.8% |
| Demand is based on the percentage of Help to Buy homes already under offer or Sold Subject to Contract | ||
| Stock levels are based on the percentage of total property listings that are Help to Buy eligible | ||
| Data sourced from MoveStreets, Rightmove and Zoopla | ||
Download MoveStreets for Apple: https://apps.apple.com/gb/developer/movestreets-ltd/id1521687023
Download MoveStreets for Android:
https://play.google.com/store/apps/details?id=com.movestreets.app&hl=en_GB&gl=US
END
Notes :
– MoveStreets is the property portal for the mobile generation, providing a quick way to search for the perfect home by allowing buyers and tenants to swipe right on homes that appeal to them
– MoveStreet was co-founded by Adam Kamani, CEO of the Kamani Property Group and KM Capital as well as a co-founder of PrettyLittleThing, and sold to Boohoo.com
– MoveStreet has already had 50,000 downloads of its app in just 12 months
– MoveStreet currently lists 38,000 properties across 800 agency branches
