The number of properties purchased using Help to Buy was up 61 per cent in the first quarter of the year compared to Q1 2020.
The number of homes bought was 15,341, supported by £1.16bn in equity loans. Of the purchasers, 81 per cent were first-time buyers, with their borrowing amounting to £941m in equity loans.
The total purchase value of all properties bought was £5.1bn.
However, despite a rise in completions year-on-year, the number of purchases had dropped 27 per cent compared to Q4 2020, the data from the Ministry of Housing, Communities and Local Government (MHCLG) showed.
MHCLG said the dip in completions was to be expected owing to seasonal variations in the new-build market.
Compared to pre-pandemic levels, Help to Buy completions in England were up by 48 per cent in Q1 this year in contrast to the first quarter of 2019.
In the year to 31 March 2021, 55,649 homes were bought under the scheme, up on 51,375 completions the previous year.
The total purchase value was £17.8bn for properties bought in the 2020-21 year, up from £15.6bn in 2019-20.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS