Chief Secretary to the Treasury Danny Alexander says Help to Buy "is not fuelling a housing boom" and dismissed calls for the mortgage scheme's limit to be cut.
Currently, mortgage guarantees are available for homes valued up to £600,000 - but Mr Alexander insists that the scheme is primarily helping people at the lower end of the market.
"What people should take confidence from in these figures is that Help to Buy is helping 95% outside of London, and it is helping people on low and middle incomes," he said.
"The average house price for people who are buying a property under the [mortgage] scheme is £150,000."
More top news
A dog has been found with its paws frozen to the ground in a New York park after being chained to a tree.
Dramatic footage has emerged of a mother and her toddler being rescued after their car plunged into an Amsterdam canal on Tuesday.
Beth Tweddle has begun walking unaided following neck surgery after injuring herself during training for TV reality show 'The Jump'.