To boost housing the Chancellor will announce the release of 1 billion pounds package in the forthcoming budget.

Chancellor to spend 1 billion pounds on housing While the details of this cash bonanza are still being finalised, what we do know is the Treasury will use this huge pot of money to:

- build new homes where the demand for housing is high
- extend the current stamp duty holiday
- restart projects that had been put on hold due to the recession

Latest news indicates shares in building companies have risen due to hopes that property prices are starting to recover and executives have started to invest in land to capitalise when the upturn occurs.

This is fantastic news for our clients, to be part of the success story contact Scala here.

Further Reading
Guardian, Darling’s 1 bln rescue plan for housing market
The Times, Alistair Darling to announce £1bn boost for stalled housing market
FT, Chancellor to boost housing with £1bn plan