The controversial Government scheme has had limited impact on London. While the initiative aims to help buyers with small deposits to purchase homes, house prices in most of London are too high for it to work effectively.

Of the 20,000 Help to Buy equity loan deals completed to date less than 7% have been in London. Eight boroughs in the capital (including Kensington & Chelsea, Westminster and Richmond) have seen no deals at all.

However, there are some important exceptions. In Barking & Dagenham, where prices are still 5.8% below their 2008 peak levels, Help to Buy accounted for 37% of transactions up to the end of February. Newham, Bexley and Sutton also saw high levels of new build sales as a result of the scheme.

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Taken from
Spotlight: London Regeneration - Boosting housing supply beyond prime