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Government claims to have helped 100,000 households onto property ladder

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Government claims to have helped 100,000 households onto property ladder

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Published by Max Salsbury for 24dash.com in Central Government and also in Housing

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Image: Housing via Shutterstock

Over 100,000 households are being helped onto the property ladder thanks to government-backed schemes, according to communities secretary Eric Pickles and Housing Minister Kris Hopkins.

The ministers said new figures show that families from all areas of the housing market are becoming homeowners because of government schemes such as right to buy and help to buy.

The government's figures show that:

  • Almost 24,000 social tenants have become homeowners through the right to buy, with the majority of sales since the government increased the scheme's discounts in 2012.
  • Almost 41,000 households have bought a home through schemes such as shared ownership.
  • Almost 48,000 people are being helped to buy their home through help to buy and earlier schemes.

Eric Pickles said: "In 2010 we inherited a broken housing market, where buyers couldn’t buy, builders couldn’t build, and lenders couldn’t lend.

"We’re now seeing buyers returning to the market in droves, and new homes being built across the country. Both buying and building are at their highest levels since 2007, underpinned by our action to cut the deficit and keep interest rates low. But there’s still more to do, and improving the housing market will remain a vital part of our long-term economic plan."

Kris Hopkins added: "Our strong support for home ownership is not merely an economic calculation, it’s because we believe in aspiration. That’s why we reinvigorated the right to buy, after it was slowly strangled by a miserly cap on discounts, which killed off the prospect of home ownership for most social tenants.

"Strengthening the scheme has made tenants believe they can buy their home, and they are voting with their feet. But we want to go further, so that’s why we’ll soon be ensuring discounts rise with inflation, and increasing maximum discount for houses, so more social tenants can take up their right to buy in 2014, and we can reinvest the cash from additional sales back into delivering new affordable homes for rent."

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