Help to Buy credited with strengthening housing market
Figures from the House Builders’ Federation show that there has been a substantial increase in planning permissions for new homes across England. According to the HBF, the number of planning permissions granted in the final quarter of last year was the highest quarterly total (52,534) since the beginning of 2008. As a year, permissions were up by 51% in 2013 compared to 2011. The growth has been credited to a surge in confidence on the back of the Government’s Help to Buy Scheme and is a further indication of a strengthening housing market.
Meanwhile, Persimmon, Britain’s second biggest housebuilder, says its annual underlying pre-tax profits rose 49%, with sale completions up 16%. The company also attributes this to the success of the Help to Buy Scheme. It says it has sold 4,250 new homes to customers using Help to Buy and that 2,203 of those legally completed in 2013