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TODAY'S OTHER NEWS

Help To Buy "adds £8,250 to price of a home" claims Shelter

Campaigning charity Shelter claims the government's flagship housing incentive, Help To Buy, has added £8,250 to the price of a home on sale. 

Nearly 120,000 households have used the range of Help To Buy schemes introduced by the government since early 2013 and the rate of activity is growing - 4,745 buyers used H2B equity loans in June, the most recent data available.

But now Shelter says total mortgage lending is 8.4 per cent higher than would have been the case without H2B and has added £8,250 to the typical price of a home. This is the equivalent of three per cent added to each home's value across the country.

In some poorer areas - where H2B take-up has been relatively high - the average price has had £12,000 added to its price, claims the charity.

Shelter's research is based on information contained in earlier analysis by the National Housing and Planning Advice Unit.

Shelter chief executive Campbell Robb says the figures provide proof that "Help To Buy hasn't helped many people at all - instead it's pushed a home of their own even further out of reach."

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