“Affordable housing output needs to be increased as the Help to Buy scheme is wound down, according to property consultancy Savills. The Help to Buy scheme has been a major factor in helping young people to afford their own home in recent years. However, its eligibility criteria are set to be tightened in 2021 with the future of the scheme up in the air.
[Take this with a pinch of salt – those “affordable” homes are, on average £33,000 more expensive than they ought to be]:
A report by Savills said that housebuilding in England may need to increase by up to a third between 2021 and 2025 to make up for the end of the current Help to Buy scheme. Emily Williams, associate director for residential research at Savills, said: “Private sector housebuilding for market sale has underpinned the rapid expansion in housing supply since 2013, including affordable housing delivery through Section 106. But that growth is slowing against market headwinds.”