Government review finds Help-to-Buy scheme generated £25bn social value

An official audit of the Help-to-Buy initiative reported that it generated approximately £25bn of social value in the most recent financial year, reinforcing claims that the scheme was cost-effective. The evaluation recorded that more than 387,000 individuals secured homes with the programme’s help, of which over 328,000 were first-time buyers, and almost 50% indicated they would not have been able to purchase otherwise.

The report praised the scheme for advancing home ownership in already affordable regions and for enabling some buyers to move directly to larger or pricier properties, thereby meeting its core objective. While the analysis omitted any assessment of the scheme’s influence on house prices, it countered Treasury arguments that the programme was an expensive route to increasing home ownership. The results are bolstering the case of housing minister Matthew Pennycook and former housing secretary Steve Reed, who have advocated for a Labour-led version, even as Chancellor Rachel Reeves continues to focus on expanding housing supply.