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Help to Buy ISA stats out today

  • Now supporting around 1 in 5 first time buyer purchases

The latest Help to Buy ISA stats, up to the end of September 2016, are out today. You can find them here:

  • Since the launch of the Help to Buy ISA in December 2015, 27,222 property completions have been supported by the scheme
  • 38,595 bonuses totalling over £20 million have been paid through the scheme with an average bonus value of £530
  • The mean value of a property purchased through the scheme is £169,045, compared to an average first time buyer price of £183,000 and a national average house price of £218,000
  • The median age of a first time buyer in the scheme is 27 compared to a national first time buyer median age of 30.

There were over 500,000 Help to Buy ISAs opened as at 30 June 2016.

Danny Cox, Chartered Financial Planner, Hargreaves Lansdown:

"Help to Buy Isa is helping to support younger home buyers and push down the average age at which people first step onto the property ladder. The majority using Help to Buy ISA are under the age of 35 which shows the Lifetime ISA age limit of 40 is well placed to support first time buyers. Help to Buy has grown to support around 1 in 5 first time buyer purchases and around 5% of the typical 100,000 total property transactions there are per month.

Government incentives to help the first time buyer are clearly working and this theme will gather pace when the Lifetime ISA launches on 6th April.

Confirmation this week that no penalty will be applied to Lifetime ISA savers in the first year of saving (2017/18) makes absolute sense – it would be brutally unfair to penalise a saver or investor before they had received their bonus.”