Wakefield in West Yorkshire, where the average house price for a new home stands at £221,740, has been revealed as England’s biggest Help to Buy hotspot.

New data from Zoopla has for the first time revealed where the most Help to Buy loans have been secured in England since the scheme launched in 2013.

By analysing the equity loans that have been secured in each local authority, the property portal said that in second place was Wiltshire, where the average price for a new-build home is £333,760, and County Durham was in third place – which has a £196,783 average value.

Zoopla found that in the year up to the second quarter of 2019, Wakefield continued to be the most popular area for Help to Buy loans, followed in second place by Central Bedfordshire, where the average price of a new build home is £389,884.

Over the same 12-month period, the property portal found the Borough of Tower Hamlets – where the average new-build home price is £588,342 – was home to the most Help to Buy loans in London, followed by Barnet where the average is £520,408.

The new data also marked the launch of Zoopla’s new Help to Buy calculator, which enables FTBs to understand their affordability for the government scheme.

The new tool will allow FTBs to work out how much is required for a 5% deposit, as well as potential borrowing capacity, estimated monthly mortgage repayments, and the monthly charges they will face after five years when the interest-free period on the equity loan expires.

Zoopla director of new homes, Alex Rose, said: “Whilst it might be presumed that FTBs only use Help to Buy in markets with stretched affordability such as London, our analysis shows that its popularity spans the entire country.

“Without doubt, the scheme has unlocked home ownership for many FTBs across England and in some instances, has enabled them to access larger properties – in effect skipping that first rung on the property ladder and going straight to the second step.

“In addition, Zoopla’s new calculator enables those who are actively considering using Help to Buy both to understand the process and their own affordability before searching for their ideal home.”

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