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First Time Buyers

Volume 490: debated on Monday 30 March 2009

To ask the Secretary of State for Communities and Local Government what estimate she has made of the number of first-time home buyers in each year since 1997. (266340)

The numbers of first time buyers purchasing a home with a mortgage in the UK in each year since 1997 are presented as follows:

Number of first time buyers purchasing with a mortgage, UK

1997

501,500

1998

525,200

1999

592,400

2000

500,200

2001

568,200

2002

531,800

2003

369,600

2004

358,100

2005

372,300

2006

401,000

2007

357,800

2008

194,400

Source:

Council of Mortgage Lenders

CML estimate that around one in five first time buyers are actually returning to owner-occupation after a break.

We are ensuring support is in place to help first-time buyers. We have:

Increased opportunities to buy a home through shared equity and shared ownership—our schemes are now open to anyone earning up to £60,000 who would not otherwise be able to afford to buy.

Now allocated £236 million to purchase nearly 6,000 unsold properties to be used as affordable and social housing.

Helped more than 110,000 households into home ownership since 1997 through our shared ownership and shared equity schemes.

Launched our £400 million HomeBuy Direct scheme, which will help up to 18,000 first time buyers across the country.