At Williams of Petersfield, we are more than happy to help vendors sell their home. Even though there are many reports about the high volume of demand for property, selling your home is a challenge. This is a highly competitive market, and it is important that vendors know what buyers are looking for and how they can appeal to buyers. We believe that the support of a skilled estate agent can help, and we make sure that your property is placed in front of the right people in the most appropriate manner.
We are happy to provide general information about buyers, because this is something that will make a difference. One issue that has helped many buyers in recent times is the Help To Buy ISA Savings scheme. Since it was launched in December of 2015, the Help To Buy: has assisted the purchase of more than 120,000 homes and the total value of these property transactions stands at more than £22 billion.
Help To Buy has helped many people buy property and vendors sell
This is a lot of money and a lot of deals. It has been calculated that the Help To Buy has assisted with 5% of all property transactions in the first two years of its operation. With respect to the ISA scheme itself, it is believed that more than £132 million has been provided by the Government. For buyers looking to save money for a deposit, which is one of the most challenging aspects of purchasing property, this Government backing can make an enormous difference.
First-time buyers are using the scheme to save for a deposit
The Help To Buy: ISA scheme is scheduled to run until 2029, so there will be many more home deals concluded with a little bit of help from the Government. Studies suggest that the average price of property bought through the Help To Buy: ISA scheme is £176,000.
When you consider the average price of property in the UK is £226,500; it is obvious that this deal is being used by first-time buyers stepping on to the property ladder for the first time. Research has shown that the average age of buyers is 27 years old and the largest group who have utilised the Help To Buy: ISA scheme is between 25 and 34 years old.
Stewart Baseley is the Executive Chairman of the Home Builders Federation and he released a statement saying; “This help for first time buyers is encouraging builders to invest, with permission being granted for more new homes than ever before. This is not just only giving tens of thousands of families a place to call home, it’s generating jobs and driving local economic growth in communities around the country.”
While there will be people who had hoped Help To Buy would have a bigger impact, there is a lot of positivity surrounding the figures and the impact on the market. If you are looking to sell your home, this is a scheme that helps buyers and ultimately, this helps you. If you are looking for more help in selling your home, be sure to contact Williams of Petersfield and we will be happy to help you any way that we can.