UK housebuilders have long argued that government schemes like Help to Buy benefit the wider economy, not just their profits. A government-commissioned study found the scheme, which ran from 2013 to 2023, provided 'very high value for money' by helping 387,000 households into new homes, about half of whom could not have afforded them otherwise. It also increased new home construction, with rising developer profits described as a 'happy bonus'.

Now, with Persimmon down 13% this year and builders sitting on cash due to weak affordability, there are calls to revive the scheme. Banks are lending to low-deposit borrowers, but high interest rates deter many. A new version at next month’s Budget could be an easy win, though fiscal pressure from rising bond yields makes funding difficult.

The original scheme cost £3.6bn net, with upfront annual lending exceeding £3bn at its peak. The Home Builders Federation proposes a smaller 15% equity loan with developer fees to reduce state costs. While this would still require borrowing, polling—some funded by the HBF—shows strong public support.

New Prime Minister Andy Burnham’s apparent appreciation for the 'feelgood factor' of housing access offers hope that such a scheme could gain traction, aligning economic sense with social need.