MORE than 100 first-time buyers purchased a house in the Cumberland council area through the Help to Buy ISA scheme in the year to March, new figures show.

There was a drop in the number of first-time buyers using the scheme across the country.

The latest Treasury data shows 137 properties were expected to be bought in the Cumberland council area with support from the Government's scheme in the year to March — down on 310 the year before.

Under the help-to-buy scheme, the Government tops up buyers' savings with a 25% bonus. The scheme closed for new applicants in November 2019, but 1,138 bonuses have been paid to individual buyers in Cumberland since its launch.

Married couples or partners can both claim for bonuses from separate ISAs to complete on a single property together.

Across the UK, 558,176 property completions have been carried through since the launch of the scheme in December 2015, with 895 of them in the Cumberland council area.

Current ISA holders can continue to save in their account until November 2029 and claim their bonus by December 2030.

The news comes as a leading Carlisle estate agent said that demand continues for all type of property in the city.

Paul Doyle Branch Manager for the Carlisle Property Division of H&H Land & Estates, said: “Overall, demand has fallen by the post Covid highs to what are realistically usual levels.

“Although there are fewer frantically looking for property, demand continues for all type of property however the number of houses available on the market remains at a low level.

“Every property that comes to the market is attracting interest, and the fall in demand is likely to be a response to the lack of availability, rather than its cause.

“And despite the combination of a slower market, the steep inflationary cost of living crisis and the daunting rise in interest rates we have experienced over the past six months, property prices have remained surprisingly stable, remaining more or less at the same level as before.

“Looking forward to the remainder of the summer and the autumn and winter to come, the property market in Carlisle is very difficult to predict.

“As interest rates continue to climb, house prices and sales are likely to decrease, so the future depends largely on the Bank of England’s strategy in bringing down inflation.

“We will hope for the predicted falls in both inflation and interest rates, and that there will be no further rise in Stamp Duty in the Autumn Budget, which could add to the pressure on the property market.”

North Cumbria is currently in the midst of a property boom with new housing developments planned across the region.

The construction of the Carlisle southern link road is set to facilitate the St Cuthbert’s Garden Village project which will see 10,000 new homes built over the next 30 years.

The project has the backing of Cumberland Council and Carlisle MP, John Stevenson who said that it would bring “employment opportunities and community facilities for our city.”

Plans are also in motion to bring 60 'affordable' homes to Brampton - despite objections from half of those who responded to the public consultation and protest have also been made against the Greenside Estate Trustees who have submitted a planning application to Cumberland Council with the hope of developing 76 ‘affordable’ homes in Brampton on land south of the A6071.

A Treasury spokesperson said: “We are committed to helping first time buyers get on the property ladder. The Help to Buy ISA has so far supported over half a million property completions.

“To continue helping first time buyers, adults under 40 can open a Lifetime ISA and save up to £4,000 each year until they reach 50, with the Government providing a 25% bonus for the purchase of a first home under £450,000.”

The Government set a value limit of £250,000 for properties purchased outside London