DEMAND for new build homes is holding steady amid help from various government schemes, some of the UK’s largest housebuilders said yesterday.

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Redrow and Taylor Wimpey told the City that while access to mortgage finance was still restricted, initiatives such as NewBuy, which underwrites 95% mortgages with participating lenders, had helped confidence.

Bovis Homes said prices were broadly stable, and generally stronger in the south of England.

As well as New Buy, Redrow chairman Steve Morgan pointed to the impact of the FirstBuy scheme, which helps low income buyers with an equity loan and said numbers would be “considerably lower” without this.

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