Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of increasing the £250,000 threshold for purchase under the help to buy ISA scheme in response to rising costs in the property market.

The Help to Buy: ISA scheme aims to help those struggling to save enough to get onto the housing ladder. The property price cap of £250,000 for those properties outside London (£450,000 within London) therefore allows the Government to target support at the people the scheme is intended to help.

The latest statistics show that since the scheme was launched in 2015, 410,075 property completions have been supported through the scheme with a mean property value of £175,010 compared to an average first-time buyer house price of £220,406. The Government keeps all aspects of savings policy under review.