Help to Buy equity loan sees housebuilders increase output

July 1, 2013
The Help to Buy equity loan has had a "flying start" which will help housebuilders significantly increase their output, according to the Home Builders Federation (HBF). HBF's figures show that around 4,000 new home reservations were made in the two months since the initiative was launched – an average of 500 a week. Large housebuilders have seen the effect in higher visitor numbers and reservations and are reporting increases in output to meet demand. According to Barratt ceo Mark Clare, the firm's completions this year are set to be 20% higher than two years ago as demand improves. "Post the Budget announcement, compared with last year, we saw reservations step up 18% and visits to the Barratt website increase by around 30%," said Clare. "Our production will rise to meet higher levels of demand."<br> <br> Other major home builders concur. Persimmon's group ceo Jeff Fairburn confirmed that the firm has increased its build activity to meet the increase in demand while Taylor Wimpey's ceo Pete Redfern reported that Help to Buy would allow the company to build more homes on sites already open. Bellway also reported an increase in demand and has already increased volumes by 5%.<br> <br> Under the …

Continue reading

To continue reading this article please login or register.

Login

Forgot your password?

Register for free

Quick and free registration

Register