Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of making house purchases above £250,000 outside London eligible for Help to Buy ISA bonuses.

The Help to Buy: ISA scheme aims to help those that are struggling to save enough to get onto the housing ladder. The property price cap allows the Government to target support at the first-time buyers who need it the most. Since the scheme launched in 2015, 359,250 property completions have been supported through the scheme with a mean property value of £174,281, below the average first-time buyer house price of £204,964 and well within the property price cap outside London of £250,000.