The creation of a new Help-to-Buy ISA, as announced by the Chancellor George Osborne in his Budget, is set to further fuel demand for property, says Harrow estate agent haart.

In his final Budget before the general election in May, Mr Osborne announced the government will add £50 for every £200 saved by those who open the new Help-to-Buy ISA, which will be available to open this autumn for the next four years.

Harrow haart Branch Manager Shahzad Ahmed said: “The Government's Help-to-Buy scheme has already helped to restore confidence in the property market. The new ISA, combined with the stamp duty reforms announced in 2014, is more welcome news for the industry and is sure to help first time buyers get their foot on the housing ladder.

“We expect to see demand for property boosted over the coming months and, with this, house prices to increase. So if you are looking to buy, now is the time.”

haart, part of the UK's largest independent estate agency group, encourages those who are looking to buy their first home to invest in the new ISA, which has a maximum monthly deposit of £200.

Only available to those who are looking to save for a new property, the ISA has a bonus cap meaning that anyone who saves £12,000 towards a deposit for a house will have it increased by a maximum £3,000.

Investors outside of London will be able to use the bonus to buy homes worth up to £250,000 whilst in London the cap will be higher at £450,000.

haart customers have access to the latest online and social media marketing tools, plus traditional print advertising and ‘open house events’ to boost buyer interest.

To sell your property or find your perfect home, call the team at haart on: 0208 2048492 from 8am to 10pm, seven days per week, or visit www.haart.co.uk.