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  • Writer's pictureKenneth Gibson MSP

Help to Buy Provides £1,000 Million Boost to the Scottish Economy

The number of households that have purchased a home under the SNP Government's Help to Buy shared equity scheme has now surpassed 10,000, supporting thousands of construction jobs in the process.

The scheme, which means buyers can purchase a new home with only a 5% deposit, saw a total of 2,370 sales during 2016/17.

Nicola Barclay, chief executive of trade body Homes for Scotland, said:

"The fact that over 10,000 households have benefited from Help to Buy is a clear demonstration of both the scheme’s success and the aspiration of Scots to own their own home. The scheme is also helping to relieve pressure on the public sector with around 5% of purchasers having moved from social rented housing and a further 5% having been on a social housing waiting list.

“With current housing completions still over 36% down on pre-recession levels, Help to Buy (Scotland) has been absolutely crucial in providing confidence and certainty for customers as well as builders in terms of planning and investment decisions.

“Above all, however, these figures illustrate the vital role home building has to play not only in terms of Scotland’s social wellbeing but also its economic success.”

Kenneth Gibson added:

“I am pleased that the SNP Government has helped so many households to access an affordable new build home through Help to Buy (Scotland).

“This has helped boost the economy and it’s great to see that the SNP Government has managed to help younger people, with half of purchasers under aged 30 or under, to support so many first time buyers and enable people to move from social housing and from waiting lists into sustainable home ownership.

"I have no doubt that the scheme will continue to have a positive impact in the months and years ahead."



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