Help to Buy has driven Scottish housebuilding

On May 26 the Scottish government closed the £130m Help to Buy scheme for new applicants.

Homes for Scotland’s chief executive Philip Hogg said: “Having already resulted in 5000 sales and now proven to have significantly increased housing production, the impact of Help to Buy (Scotland) is obvious for all to see.

“Not only has it stimulated the building of much needed new housing and helped people meet their aspirations to own their own home, it has also channelled investment to Scotland, supporting vital jobs and boosting the wider economy.”

Homes for Scotland pointed to figures that private housebuilding has increased by 16% in 2014 and since 2012 the number of new homes being built rose by 22%.

He added: “Disappointingly, however, with demand resulting in early closure of the main scheme just last week and no announcement on further support forthcoming from the Scottish government, we now seem to be at risk of letting the opportunity to build on its success pass us by rather than capitalising on the wide-ranging social and economic benefits it has to offer.

“There is still a long way to go in addressing our country’s housing crisis but in order to harness the potential that Help to Buy (Scotland) has already demonstrated and maintain this momentum, we hope the Scottish government acts on this clear evidence of success and provides an early signal on its intentions for a successor scheme from April 2016.”