Help to Buy scheme has boosted market interest, say house builders

Redrow said in its interim management statement (2-page / 79KB PDF) that it welcomed the two Help to Buy initiatives which Chancellor George Osborne announced last month as part of the Budget 2013. It said that the equity loan scheme had already generated "significant interest" from customers. 

"We expect it to achieve its objectives of increasing the affordability and output of new homes over the next three years," the statement said. 

Redrow said it believed that the introduction of the mortgage guarantee scheme would also "provide liquidity in the overall housing market, making it easier for people to move". "We believe that both measures will help the housing market return to more normal levels of turnover and provide a significant stimulus to the UK economy," it said. 

Taylor Wimpey has also reported (3-page / 52KB PDF) an increase in visitor levels and reservations. "We have seen strong interest from customers towards the Help to Buy scheme and our marketing efforts have focused on helping customers understand the scheme and the options available to them," it said. 

The house builder said that the scheme had boosted housing market sentiment and that it would contribute to the delivery of "much needed homes".