The extension of Help to Buy until 2020 in George Osborne’s budget should instil further confidence in the housing market and increase the supply of properties for sale, according to local estate agency Fox & Sons in Hastings.
Although housing market activity has increased over the last year, buyer confidence has outweighed the supply of homes available.
This latest announcement to extend the Government’s home ownership scheme should provide further impetus to the house building activity and increase the choice of properties available for increasing numbers of home buyers.
“The announcement that Help to Buy will now be available until 2020 is great news for home buyers so we welcome George Osborne’s plan to extend the equity loan scheme which enables purchases to buy a new build property with just 5% deposit,” says Ryan Bettney Branch Manager for Fox & Sons.
“Additional measures such as the fund for smaller house builders is also welcome news as this will further increase the supply of new homes to the market.”
Since launching, Help to Buy has had a transformation impact on the housing market and been instrumental in boosting buyer confidence.
This extension of the scheme should mean that even greater numbers of buyers can benefit including first-time buyers and home movers.
“Help to Buy has had a major impact on buyers either trying to step onto or move up the property ladder,” Ryan continues.
“I would urge anyone who has been thinking of purchasing a new home to get in touch and see if we could help.”
If you have a property to sell and would like to arrange a free market appraisal on your home, contact the local Fox & Sons branch on 01424 722177 or email: email@example.com