More criticism has come of the government’s multi-faceted Help To Buy initiative, this time from campaigning housing charity Shelter.
The charity claims that over 65 per cent of the various Help To Buy incentive programmes push up demand without improving supply – with the inevitably consequence in a free market being that prices of homes become dearer and less affordable.
Shelter claims £28.7 billion of government funding during the course of this parliament will go to Help to Buy and associated programmes – while the remaining third of housing scheme funding, £16.05 billion, goes to improving supply by actually building homes.
Shelter says the government schemes which boost housing supply are the affordable home programme, shared ownership and starter homes, not Help To Buy.
In the past, Shelter has estimated that Help to Buy has in fact increased apartment and house prices by around three per cent on average.
The Department for Communities and Local Government says since 2009 the government had built about 900,000 homes and doubled the annual house construction budget.