14 May

Help to Buy increases demand for properties in the UK

Help to Buy increases demand for properties in the UK

More people in the UK are now heading to estate agents to try to get their hands on property thanks to the government's Help to Buy scheme, a survey has concluded.

In March, George Osborne announced that the flagship NewBuy scheme launched last year had been altered and become Help to Buy in order to allow current homeowners as well as first timers to purchase new build properties.

And now a report from the Royal Institute of Chartered Surveyors (Rics) has shown that the total level of demand is at its highest in over three years as of April, with a net balance of 25 per cent more surveyors saying they had seen an increase in the number of enquiries.

This is a figure that has risen from the 13 per cent reported in March.

Peter Bolton King, Rics global residential director, said: "It is encouraging to see government initiatives are having an impact on the property market. Help to Buy in combination with the Funding for Lending scheme appears to be giving the market a shot in the arm. Thankfully, sales are expected to pick up over the coming months, albeit from historically low levels."ADNFCR-1222-ID-801585248-ADNFCR

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