Shares in major UK housebuilders traded down over 5 percent on Friday, after a report suggesting that the government was reviewing its Help to Buy scheme.
An article in Property Week on Friday said: “The government has embarked on a review of the Help to Buy housing scheme, which could result in it being wound down or replaced before its scheduled end in April 2021.”
Taylor Wimpey (LON:TW), Persimmon (LON:PSN) and Barratt Developments (LON:BDEV) all saw their share price drop by around 5 percent on the news, with the Help to Buy scheme being one of the biggest initiatives to support an increase in housebuilding in the UK.
The scheme was launched in 2013 and was designed to make it easier and more affordable for first-time buyers to obtain a home. However, its effectiveness was questioned by a recent government report that said that 57 percent of those who signed up to it said they could have afforded to buy without access to the scheme.
