Help-to-buy initiative for England could slow market while first-time buyers wait for launch, builder admits

The new Your First Home programme for first-time buyers could increase the number of houses British builder Bellway produces each year by 10%, its boss has said.

Faced with a chronic shortage of homes, the government has made housing one of its top priorities and Andy Burnham’s surprise announcement of the YFH scheme a fortnight ago sent housebuilders’ shares soaring by more than 10%.