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Help to Buy 'driving developer activity'

The government's ongoing Help to Buy initiative is encouraging developers across the country to increase their construction efforts to meet the growing demand for new properties.According to housing minister Kris Hopkins, there is a sense of renewed confidence in the UK housing sector of late and much of this rise in sentiment can be put down to initiatives from the government to get the sector moving once more after several years of stagnation.Help to Buy is perhaps one of the more controversial measures currently active, as some analysts believe the scheme could be artificially maintaining prices and even driving up values in some parts of the country, leading to the prospect of a further housing bubble in the years to come.However, what is clear is that since the start of the initiative more than 15,000 reservations for new-build properties have been made across the country, demonstrating the significant appetite for new homes being witnessed up and down the country.Furthermore, it is not just large builders that are now responding to this upturn in market activity, with 80 per cent of the more than 900 developers planning to offer Help to Buy homes over the coming months being small builders, with developments of 40 homes or less."The Help to Buy equity loan scheme is not just helping thousands of buyers onto the property ladder, but is making an important contribution to people's lives, creating jobs, boosting local business and stimulating the economy," Mr Hopkins commented.Indeed, the government's measures to promote greater homeownership and access to funding for both builders and buyers appears to be moving the industry and the economy in general in the right direction, with schemes like the Get Britain Building programme investing millions of pounds into the construction sector over recent months.Mr Hopkins concluded it is also good to see the north of England leading the way in terms of the uptake of Help to Buy and the creation of new homes to meet the needs of local communities crying out for additional residential accommodation. 

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