- April 28, 2017
- Posted by: Vaughan Gething AM
- Category: Latest News
Since the introduction of the Help to Buy Wales scheme in 2014 a total of 4,949 property purchases were completed using a Welsh Government Help to Buy-Wales shared equity loan, statistics released today show.
The majority of homes purchased through Help to Buy Wales were to first time buyers, accounting for 75 per cent of total completions.
Communities and Children’s Secretary Carl Sargeant has welcomed the figures, saying the Welsh Government’s ambitious housing programme is about providing people with affordable, safe, warm and secure homes in sustainable communities.
Carl Sargeant said:
“I am pleased that our Help to Buy Wales investment has given many first time buyers the help they need to get their foot on the property ladder.
“The scheme has also helped provide the Welsh housing market with essential momentum and created valuable jobs.
“Last year we announced we would invest up to £290m in a second phase of the scheme to support the construction of more than 6,000 homes which will be part of our target of an additional 20,000 homes during this term of government. This reflects the success of the scheme in providing a route into more affordable home ownership, especially for first-time buyers. It has played a huge role in generating confidence within the housing sector and supporting private housing development.”