The number of new housing starts has increased by just
7.7 per cent since George Osborne’s Help to Buy policy was introduced, belying
government claims that the home buying subsidies have stimulated a significant
increase in residential construction. Since the policy was introduced in April
2013, about 113,000 families have been assisted in buying homes. The
Communities Secretary, Greg Clark, also argued that the policy was “getting
Britain building”, claiming private house building was up by more than a third
since the launch of the scheme. However, the latest official construction
figures showed total new housing starts in England were 33,280 in the second
quarter of the year, up just 7.7 per cent from the second quarter of 2013 and
still well below the average before the financial crisis of 44,000 starts a
quarter. Read more on the Independent website.
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