Statistics released by the Office for National Statistics showed 2,283 properties were purchased in England during the month of May.

This brings the total number of homes bought using the scheme to 22,831 since its launch in April 2013.

Of this figure 86% of sales have been to first-time buyers with a mean purchase price of £206,084.

Leeds continues to prove the most popular location for Help to Buy users to purchase a property with 386 completions since launch.

Wiltshire was the next most popular location while London commuter areas such as Central Bedfordshire, Milton Keynes and Peterborough rounded out the top five.

Across all London boroughs there have been 1,483 sales since the scheme began with Havering, Bexley and Croydon proving the most popular areas of the capital.

However, there are fears of a slowdown in equity loan completions in the coming months following Halifax and Nationwide’s decision to restrict the distribution of their products.

Central bankers are to confirm later today whether they will act on growing concerns about the housing market.