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Help to buy – scramble to buy

Britain’s rapid housing market recovery has sparked a scramble for land, writes Gill Plimmer in the FT. Bidding wars between building groups are pushing prices up 10 per cent or more. As sales of new-build homes have surged, on the back of the government’s controversial Help to Buy scheme, land traders say they are seeing six to 10 buyers competing for some sites, compared with just one a year ago. Is anyone surprised?