Homes offering affordability support schemes continue to attract strong buyer interest but new research suggests they remain a tiny proportion of the properties available across Great Britain.
Analysis by Benham and Reeves found that just 11,036 homes currently on the market are being sold with a buyer support scheme attached, accounting for only 1.8% of the estimated 611,443 homes available for sale nationwide.
Despite this limited supply, more than a third (36.3%) of scheme-backed properties have already been sold subject to contract, highlighting continued demand from buyers seeking help to overcome affordability challenges.
The findings come as affordability remains one of the biggest barriers to homeownership, particularly for first-time buyers and those struggling to bridge the gap between rising house prices and mortgage costs.
LIMITED AVAILABILITY
Demand is strongest across the Midlands. In the West Midlands, 42.4% of homes marketed with a support scheme have already been sold subject to contract, the highest proportion of any region. The East Midlands follows at 41.3%, with the North West close behind at 40.6%.
Yorkshire and the Humber recorded demand of 39%, while Scotland stood at 38.4%. Across England as a whole, 41.1% of scheme-backed homes have already secured a buyer.
Availability remains limited in every region. The South East has the highest concentration of scheme-backed homes, where they account for 2.7% of available stock, followed by the East of England at 2.5%. London and the South West both sit at 2%.
At the other end of the scale, Scotland has the lowest availability, with scheme-backed properties accounting for just 0.4% of stock, while Wales stands at 0.8%.
PRACTICAL SUPPORT
Marc von Grundherr (main picture), Director at Benham and Reeves, says: “For many buyers, affordability remains the biggest obstacle to homeownership and that’s why homes offering additional support continue to attract strong demand.
“What’s particularly notable is that these properties account for less than 2% of available housing stock across Great Britain, despite more than a third already being sold subject to contract.
“The government is rightly focused on increasing housing supply, but buyers also need practical support to help them get onto the ladder. This research suggests there is still a significant appetite for schemes that help bridge the gap between aspiration and affordability.”
