Andy Frankish, New Homes Director at Mortgage Advice Bureau (MAB), comments:
“Today’s figures show Help to Buy equity loans were top of many aspiring buyers’ wish lists on the run-up to Christmas. With almost 13,000 completions on the board, it bodes well that that the majority came in the final three months of 2013.
“Although the end of the year is traditionally very busy as potential buyers seek to move before Christmas, these figures show how successful this product has become and suggest great things are in store for the future of Help to Buy 1.
“Help to Buy equity loans have thrown the doors to the new build market wide open. Just as importantly, they have transformed the outlook for the construction industry. Growing consumer demand has given the green light to get Britain building again. A housing shortage still persists, but the tide has clearly turned. Help to Buy has sparked developers into action and we can expect the supply of residential properties to keep on growing at long last.”