Across Hampshire the Savills Residential Development Sales Team is reporting a rise in confidence in the local market following the launch of the government’s ‘Help to Buy’ scheme.

This scheme, which is designed to help borrowers with deposits of just 5% get on to the property ladder has presented a welcome lifeline for those who were unable to move home or remortgage because of a lack of liquidity.

Alan Watt, Head of Savills Residential Development Sales in the South comments, “The Savills research team estimates that over the three year lifespan of the scheme, up to 400,000 credit worthy buyers will get on and up the housing ladder, which will in turn boost development.

Of these, it is estimated that 40% of these will be first time buyers.

We have certainly seen an uplift in the local market since Help to Buy announced in April. A good number of our buyers have embraced the opportunity to buy under the scheme. It is partially a result of buyers applying for Help to Buy but also the result of a boost in confidence in the market. Either way, things are looking up.” He continues.

“In February 2014, we will be launching 299 apartments at Admirals Quay, one of the most significant of the current developments in Southampton and the Help To Buy scheme will certainly drive interest. With three apartment blocks including a fantastic 26 storey residential building, it forms the tallest residential building in the City.

"We expect a good number of buyers to take advantage of the scheme, due to the fact that at other sites we are currently marketing the trend does not seem to be losing momentum at any time soon.”

These schemes are not available to buy-to-let landlords, second home purchasers, or foreign buyers with no UK credit history.

Although the main part of Help to Buy, the mortgage guarantee, has only just been launched ahead of its originally planned start of January 2014, , the £3.5bn equity loan part of the deal, aimed at buyers of new build homes, has already resulted in 12,500 registrations.

It has been estimated that this equity support could result in 75,000 sales of new build homes. The incentive’s boost to housebuilders’ sales comes against a backdrop of a strengthening property market.