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HomeBuy Scheme

Volume 487: debated on Wednesday 4 February 2009

To ask the Secretary of State for Communities and Local Government with reference to the Answer to my hon. Friend the Member for Bromley and Chislehurst (Robert Neill) of 30 October 2008, Official Report, column 1271W, on housing: low incomes, how much of the funding for the Homebuy Direct programme will be allocated to each region of England. (252739)

HomeBuy Direct is a shared equity scheme that is offered on specific new build properties bought forward by developers. These properties were selected through a competitive bidding process that concluded in December 2008. On 15 December, we announced the outcomes of this competition, including the number of properties selected for the scheme in each region and the maximum Government investment that these properties represent.

The following table sets out the maximum Government investment figures for each region. These figures are based on the Homes and Communities Agency providing a 15 per cent. equity loan on every HomeBuy Direct property in each region (not all purchasers will necessarily qualify for the maximum equity loan—this will depend on what they are able to afford). The figures are also based on current estimated open market property values.

Region

Maximum government investment (£ million)

East Midlands

55.1

Eastern

55.0

London

45.5

North East

39.9

North West

51.8

South East

79.2

South West

46.6

West Midlands

50.5

Yorkshire and the Humber

61.7

The division of funding shown in the table reflects the pattern of approved bids bought forward by developers. It is important to note that the actual level of Government investment in each region will depend on take-up by first time buyers, and that Government investment will be matched ‘pound for pound’ by the participating developers.

To ask the Secretary of State for Communities and Local Government how many homes were sold under the social HomeBuy scheme in (a) each region and (b) each London borough in (i) 2006-07, (ii) 2007-08 and (iii) 2008-09. (253569)

The following tables show the number of social HomeBuy sales broken down by regions and London boroughs for each year from 2006-07 to 2008-09.

Social HomeBuy sales by regions in 2006-07, 2007-08 and 2008-09

Sales

Region

2006-07

2007-08

2008-091

Total to date

London2

23

79

36

138

South Eastern

2

20

9

31

South Western

0

2

0

2

Eastern

1

4

2

7

East Midlands

3

2

0

5

West Midlands

0

6

11

17

North East

2

7

7

16

North West

4

34

21

59

York and Humber

12

6

0

18

Total RSL sale

47

160

86

293

1 To the end of December 2008.

2 Figures includes seven sales in local authority sector (i.e. three sales by London borough of Southwark in 2007-08 and four sales in 2008-09, two by London borough of Southwark and two by London borough of Croydon).

Social HomeBuy sales by London boroughs in 2006-07, 2007-08 and 2008-09

Sales

London borough

2006-07

2007-08

2008-091

Total to date

Barking and Dagenham

0

0

1

1

Barnet

0

1

0

1

Bexley

0

2

2

4

Brent

0

5

1

6

Bromley

0

5

2

7

Camden

0

0

1

1

Croydon2

6

4

6

16

Ealing

0

4

0

4

Enfield

0

3

0

3

Greenwich

0

5

0

5

Hackney

2

9

1

12

Hammersmith and Fulham

10

4

1

15

Haringey

0

2

2

4

Hillingdon

2

0

0

2

Hounslow

0

5

0

5

Islington

0

0

1

1

Kensington and Chelsea

3

8

2

13

Lambeth

0

3

1

4

Lewisham

0

2

0

2

Merton

0

1

0

1

Newham

0

3

7

10

Richmond upon Thames

0

2

0

2

Southwark3

0

6

4

10

Tower Hamlets

0

1

2

3

Waltham Forest

0

1

2

3

Westminster

0

3

0

3

Total

23

79

36

138

1 To the end of December 2008.

2 Croydon sales figure in 2008-09 include two sales by the local authority.

3 Southwark sales figures include five sales by the authority, three in 2007-08 and two in 2008-09.

To ask the Secretary of State for Communities and Local Government how many (a) landlords, (b) housing associations and (c) local authorities participated in the social HomeBuy scheme in (i) each region in England and (ii) each London borough in (A) 2006-07, (B) 2007-08 and (C) 2008-09. (253570)

Tables have been deposited in the Library that show participating landlords in each region in England and each London borough in each year from 2006-07 to 2008-09.

To ask the Secretary of State for Communities and Local Government how many completed social HomeBuy sales there have been to date. (254023)

I refer the hon. Member to the answer I gave to the hon. Member for Brentwood and Ongar (Mr. Pickles) on 3 February 2009, Official Report, column 1141W.