George Osborne is set to announce additional support for the housing sector in today’s spending review. BBC News reports that £7bn will be pledged to make housebuilding a priority and over 400,000 affordable homes are to be built in England.
The market has reacted positively to this news with companies like Berkeley Homes Bellway, Bovis Homes and Persimmon all reporting a jump in share prices.
Source: Google Finance AOL Money
In fact at 11am this morning, 6 of the top ten movers on the FTSE 100 were house builders including Persimmon and Berkeley Group.
Source: Yahoo Finance