Question to the Ministry of Housing, Communities and Local Government:

To ask the Secretary of State for Housing, Communities and Local Government, what steps his Department is taking to ensure that new developments benefit first-time buyers and rather than buy-to-let landlords.

This Government introduced the 'Help to Buy: Equity Loan scheme' to help more first-time buyers and others to buy a new home. Since 2013 it has supported 116,898 first-time buyers into homeownership, which is 81 per cent of all buyers through the scheme. We have also announced greater funding for new Shared Ownership and Rent to Buy properties, and the Housing White Paper set out our plans for starter homes.

In addition, we have prioritised first-time buyers though our recent reforms to Stamp Duty, ensuring that first-time buyers are exempt from the tax on purchases of properties up to £300,000. Those buying a property between £300,000 and £500,000 will only be liable on the premium above £300,000. This reform should help 95 per cent of first-time buyers and give them a distinct advantage over buy-to-let investors, who are now subject to a higher Stamp Duty charge.