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Builder Eyes 10% Boost from YFH
13 Oct
Summary
- New Your First Home scheme aims to aid first-time buyers in England.
- Builder Bellway anticipates a 10% increase in home completions annually.
- The initiative features income and price caps to target modest housing.
The upcoming Your First Home (YFH) initiative in England is poised to offer significant support to first-time buyers. This government program features household income and property price caps, targeting assistance towards those seeking more modest new-build homes. Anticipated to launch on October 28, 2026, the scheme will provide a government-backed equity loan of 20%, requiring a minimum deposit of 2.5% from buyers.
Bellway, a prominent UK housebuilder, expects the YFH program to potentially increase its annual home completions by approximately 10%. The company's chief executive, Jason Honeyman, suggested this could lead to a return to producing at least 10,000 homes annually. However, Honeyman also noted that some prospective buyers might delay purchases, waiting for the YFH to become available, which could temporarily slow the market.
Despite current pressures from higher construction costs and a lower order book, Bellway reported strong financial results for the year ending August 31, 2026, with revenue up 13% to £3.16bn and pre-tax profits rising to £305.7m. The company is forecasting between 9,000 and 9,400 completions for the current year. The YFH scheme is expected to benefit most major housebuilders, though those focused on higher-priced markets or affordable housing may see less impact.
