At the end of December phase two of the Help to Buy scheme is going to be withdrawn by the government after a successful three years.
Figures from the ONS show the growth in houses prices over the year for new builds is more than double that of existing homes.
Many London boroughs continue to see house price growth in double figures although the average rate is slowing.
House prices for new-build properties have risen by 17.9% for the year, double the rate of existing with highest growth in the South East.
There has been a 20% fall in demand for new-build homes and interest in the London housing market due to the EU Referendum.
London’s new Mayor Sadiq Khan has outlined plans to quadruple the number of affordable new-build homes in the capital.
Latest data from the ONS indicates London house price growth is the highest for March for the first time this year.
The ONS have updated their index weighting reducing the average property price in London by £27,000 in February.
Figures from the CML estimate a 30% rise in mortgage lending over the year as homebuyers seek to complete before the April deadline.
House prices are higher by 6.7% over the year and out of reach for many as London and the East are leading the regions.
An MP committee has found that 40% of ex-council homes sold using right to buy are now privately rented properties.
Lenders for the new London Help to Buy are offering mortgage rates as low as 1.55% to first time buyers and home movers.
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