Over 88,000 people have been helped to buy a new home by the government's Help To Buy housing scheme since its inception.

New figures released by the government today show 80% of scheme completions have been made by first-time buyers, while the average house price was £185,000, below the national average.

94% of Help to Buy completions took place outside of London and over half were for new-build homes.

Help to Buy was created in 2013 to support those unable to pay a mortgage.

The government said housing starts last year increased by 10%, with 537,000 new homes being built during this parliament.

-- Advertisement --

Prime Minister David Cameron said: "Thanks to Help to Buy, this government has helped thousands of hardworking people that otherwise would have been locked out of home ownership get the keys to their own home and enjoy the security that comes with it.

"This is all part of our long-term economic plan to secure a better future for Britain – and, together with cutting income tax, lowering council tax bills and freezing fuel duty, the government is backing those who work hard and get on find the financial security they deserve."

Chancellor George Osborne said: "It’'s great news that the government's Help to Buy scheme has now helped almost 90,000 people across the country achieve their dream of buying a new or bigger home.

"We've only been able to help thousands of people in the UK because our long-term economic plan is working: through schemes like Help to Buy we're supporting hard-working taxpayers buy their own home, driving an increase in house building in Britain, ensuring long-term housing supply and creating jobs."

(IT/JP)