Chancellor George Osborne has made the decision to extend the Help to Buy scheme, planning to keep the scheme going past 2016 and on to 2020. Not only will this please many first time homebuyers who are not quite ready to put their first deposit down, but also housebuilders and builders’ merchants everywhere, who are likely to benefit from the continued demand for new build homes. Already, shares in Britain’s housebuilders have risen sharply.
The chancellor plans for an extra £6bn to be put into the English Help to Buy scheme in order for a further 120,000 new homes to be built, but while the Home Builders Federation is more than pleased with the news, others have speculated that this move will put further pressure on house prices, potentially leading to an unsustainable bubble. Some are arguing that the money could have been used in other ways, but for the meantime it seems as though enough people will benefit from the extension of the scheme to make it worthwhile in the government’s eyes.
As demand for new homes continues to grow, builders’ merchants and other construction industry retailers can expect to benefit from increased trade as housebuilders and contractors clamour for their services.
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Trader is an easy to use electronic point of sale system designed for the unique requirements of building, plumbing and timber merchants, hardware and DIY stores in the UK and Ireland.
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