PARLIAMENTARY WRITTEN QUESTION
Housing: Young People (5 April 2019)

The Government is committed to building a housing market which works for everyone. We recognise that for too many people home-ownership is affordable. Addressing this affordability challenge requires building the homes our country needs. That is why we intend to deliver 300,000 homes per year, the largest annual increase in housing supply since the 1970s.

Since 2010, over half a million households have been helped to purchase a home through government backed schemes including Help to Buy and Right to Buy. The recent Evaluation of Help to Buy: Equity Loan from 2015 to 2017 found that 63 per cent of first-time buyers benefiting from the scheme were under 35 years old.

Building on this, the 2017 Autumn Budget announced a new stamp duty land tax relief benefiting 95 per cent of first time buyers who pay it – over 18,500 have been helped so far.