Last year, Chancellor George Osborne announced the Firstbuy Government scheme, which was designed to help first time buyers in the UK, onto the property ladder.
The scheme allows first-time buyers to purchase a new-build property using just a 5% deposit, with a further 20% deposit provided in the form of a five year interest-free loan jointly funded by the government and the house builder.
The Rightmove FirstBuy page was launched, providing prospective first-time buyers with a map-based search engine divided geographically by each HomeBuy agent, with available FirstBuy schemes plotted throughout each region.
The page proved to be a huge success and today, Rightmove’s FirstBuy homepage has reached the impressive landmark of achieving one million page views.
Rightmove director Miles Shipside comments: “Hitting one million page views within a year of launching the FirstBuy homepage really underlines the pent-up demand among first-time buyers to own the roof over their heads. It also shows what a leg-up initiatives like FirstBuy can provide in enabling first-time buyers to get onto the housing ladder, and how Rightmove acts as a focal point for home-hunter research and enquiries about those schemes.”
“FirstBuy has seen a great response both on Rightmove and within the new build sector. We have now launched a similar page for the NewBuy scheme to inform prospective new purchasers about how the scheme can help them and channel those home-hunters towards developers in their area who have NewBuy plots for sale. Our research has indicated that 2 in 5 first-time buyers feel that they are more likely to get on the housing ladder thanks to NewBuy and we are already seeing a strong response to NewBuy on our site,” concluded Shipside.