With the number of UK house sales set to creep over the one million mark this year for the first time since 2007, the Government’s Help to Buy scheme appears to be doing something right. According to their figures, Leeds is in the leading pack with the highest Help to Buy sales so far.
As a result of the initial phase of the scheme, more than 5,000 new-build homes have been bought in England. Encouragingly, the latest figures show that over 32,000 new-build home were started between July and September – the highest quarterly figure recorded since 2008.
The market revival appears to be in full flow, as house sales approach one million, a significant contribution to which has been buy-to-let investment. The total number of buy-to-let transactions is expected to surpass 160,000 this year, marking an 80% growth compared with levels seen four years ago.
With very high tenant demand and the prospect of good, steady rental returns, more and more investors have been attracted, and the private rented sector continues to grow.
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