Help to Buy is 'catalyst behind Scottish home building'

That is the view of trade body Homes for Scotland which also pointed to a 22 per cent rise in the number of new homes built since 2012, the year before the scheme was introduced.

Chief Executive  Philip Hogg said:

“Having already resulted in 5000 sales and now proven to have significantly increased housing production, the impact of Help to Buy (Scotland) is obvious for all to see.

“Not only has it stimulated the building of much needed new housing and helped people meet their aspirations to own their own home, it has also channelled investment to Scotland, supporting vital jobs and boosting the wider economy.

“Disappointingly, however, with demand resulting in early closure of the main scheme  just last week and no announcement on further support forthcoming from the Scottish Government, we now seem to be at risk of letting the opportunity to build on its success pass us by rather than capitalising on the wide-ranging social and economic benefits it has to offer.

“There is still a long way to go in addressing our country’s housing crisis but in order to harness the potential that Help to Buy (Scotland) has already demonstrated and maintain this momentum, we hope the Scottish Government acts on this clear evidence of success and provides an early signal on its intentions for a successor scheme from April 2016.”