The average price paid for properties purchased under the various affordable housing schemes in Britain is £189,786, just 4 per cent lower than the £197,535 average for house purchases, according to the Halifax.
Regionally, the highest average price paid by purchasers using affordable housing schemes is in London (£323,148), while the lowest is in the north (£147,437).
Nevertheless, the average value of a London property sold in a scheme is a third lower than the average London regional price (£482,579).
First-time buyers remain the biggest beneficiaries of Help to Buy housing schemes, accounting for 80 per cent of purchases over the last year - significantly higher than the 46 per cent of all mortgage financed home purchases made by first-time buyers over the same period.
The average price paid by first-time buyers using the scheme is now £150,3611 - 10 per cent lower than the average price paid by first-timet buyers for all housing.
First-time buyers in London see the largest benefits from buying through affordable housing schemes, with an average price just over a third lower (36 per cent) than the average price paid by first-time buyers in the capital generally (£236,733 vs. £367,961).
Craig McKinlay, mortgages director at Halifax, commented that the Help to Buy and Help to Buy NewBuy schemes have helped close to 80,000 first-time buyers on to the housing ladder since Help to Buy’s introduction in 2013.
“As the economy continues to recover and mortgage interest rates remain at very low levels we expect to see continued growth in first-time buyers during the second half of the year.”
The typical borrower using affordable housing schemes has an average gross annual income of £31,886 - 5 per cent lower than the average earnings for all those in full time employment (£33,4754) - and over a third (37 per cent) are in the age band 20 to 29, compared with just 25 per cent of all housing transactions.