The Prime Minister has been in Derbyshire this morning to champion the Government’s Help to Buy scheme.
David Cameron visited the Briar’s Chase development in Ilkeston to discuss figures released today.
More than 7,000 homes have been sold so far under the Help to Buy mortgage guarantee scheme, according to the Treasury.
The figures are the first indication of how the scheme has performed since it was launched late last year, in the East Midlands nine per cent of completions have been as a result of the scheme.
Statistics also showed that 80 per cent of the homes sold went to first-time buyers.
Speaking about the figures, Mr Cameron, was keen to dispel comments in the press about the scheme being responsible for a housing price hike.
He said: “House prices are still 15 per cent less than they were when we saw the peak in 2007.
“You only have to ask builders like Taylor Wimpey here and they will tell you that 40 per cent of the houses on sites like this are selling to people because of Help to Buy and that is helping to get new houses built.
“You won’t get builders to build unless you’ve got buyers to buy.”