Help to Buy reservations pass 12,500 mark

House building

Builders have told the Government Help to Buy will boost construction as new reservations under the scheme pass the 12,500 mark.

Housing minister Mark Prisk met with the builders last week to be told the equity loan version of Help to Buy was on track to hit 74,000 reservations over the next few years.

The builders also discussed what steps could be taken to address the other constraints on supply – the planning system and regulatory costs.

Home Builders Federation executive chairman Stewart Baseley says that if Help to Buy is to lead to a significant and sustained increase in housing supply then these two areas need to be addressed.

He says: “Ministers still need to act on the other constraints on supply – a lack of land and excessive regulatory costs.”