The number of properties bought through the Help to Buy scheme in England grew 4.6 per cent in the year to 30 September 2019, totalling 52,703.

Of these, 86 per cent were made by first-time buyers, which demonstrates 6.2 per cent growth in this metric over the year.

There were 6,439 HTB purchases in the capital across the same time frame as above, up 24.4 per cent. Of these, 95 per cent with first-time buyers, growth of 25.4 per cent.

Since the scheme’s launch in April 2013, nearly a quarter of a million properties – 248,075 – have been purchased under it, totalling £14.31bn in terms of loans to make the value of properties sold £65.69bn.

The mean house price under the HTB scheme is £264,785, the mean equity loan value at £57,694.

FTBs account for 81 per cent of these purchases.

Looking at applicant income, 22 per cent of purchases reported incomes of between £40,0001 and £50,000 and 20 per cent the bracket below (£30,001 to £40,000).

Meanwhile, 5 per cent of HTB users reported an income of greater than £100,000.

Opinions on the effectiveness of the scheme are, as ever, mixed. Benham and Reeves director Marc von Grundherr says: “The government’s head in the sand approach to solving the housing crisis revolves around fuelling an already overheating level of buyer demand and the HTB scheme is the feather in their cap of failure.

“What’s more, many of those to have ‘benefitted’ from the scheme are now facing down the barrel of an increase in costs as the interest on their loan starts to come into play.

“It’s time the government stops flogging this dead horse in its various guises and addresses the actual issue which is clear for all to see. We need more houses to be built and we needed them five years ago.”

Stone Real Estate founder and chief executive Michael Stone comments, however: “It may not have been the quick-fix solution to the long term supply issues that we’ve been searching for, but there will be many homeowners across the nation, the majority of which are FTBs, who are thankful for the boost it has provided them in getting onto the housing ladder.”