Your First Home price caps revealed ranging from £215,000 to £650,000.
Summary
The government has published local authority price caps for the new Your First Home scheme, which will support first-time buyers of new-build homes with 2.5% deposits and 20% government-backed equity loans. The caps range from £215,000 to £650,000 across England, with London authorities concentrated at the top end and many lower-cap areas in the North East and elsewhere. The article also highlights concerns that the scheme could add conveyancing complexity and risk inflating new-build prices.
Why it matters
Surveyors involved in valuation, new-build work and conveyancing-adjacent advice may see increased demand and pricing distortions in scheme-eligible markets. The scheme’s structure and price caps could influence comparables, buyer behaviour and perceptions of new-build premiums.
Key points
- Your First Home replaces Help to Buy and opens for applications from February 2027.
- The scheme offers 2.5% deposits and 20% government-backed equity loans on eligible new-build homes.
- Price caps range from £215,000 to £650,000 across 296 local authorities in England.
- London authorities dominate the highest cap band, while some northern authorities have the lowest caps.
- Concerns have been raised about conveyancing administration and potential new-build price inflation.
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