Since 2013 the Help to Buy (Scotland) scheme has supported more than 12,000 households into a new home. Around two thirds of the households helped are first time buyers and more than three-quarters are aged under 35.
In our approach to Land and Buildings Transaction Tax, which has replaced Stamp Duty in Scotland, we have prioritised support for first time buyers and those buying homes at the lower end of the market. This year we have further reformed the tax paid when buying a new home so that 80 per cent of first time buyers don’t pay it at all.
During this parliament we have set a target to build at least 50,000 new affordable homes, including 35,000 council or housing association homes. Overall, more than 78,000 affordable homes have been delivered since we came to office, including more than 53,000 council or housing association homes. We have also ended Right to Buy to safeguard up to 15,500 existing homes in the social rented sector for future generations.
In addition to our commitment to deliver 50,000 affordable homes during this Parliament, an extra £25 million from the Building Scotland Fund will support the delivery of 3,000 new homes.