First-time buyers can get a new-build with a 2.5% deposit as price caps range from £215k to £650k

The government has published the full regional breakdown of price caps for its new Your First Home scheme, with eligible first-time buyers in England able to purchase a new-build using a deposit as low as 2.5% and an interest-free government equity loan of 20%. Buyers must earn no more than £110,000 a year outside London, or £140,000 within it, and the property must be their main home.

A February opening for applications is anticipated, with the first sales due to complete in April.

The lowest caps cover areas such as North Lincolnshire at £215,000, and Hartlepool and Middlesbrough at £220,000.

Connells group research director Aneisha Beveridge says the caps should give buyers a choice of 'both flats and smaller houses in most areas'.