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BUDGET 2011: Housebuilders welcome package of measures

Britiain’s biggest housbuilder Barratt Developments has welcomed a series of measures announced by Chancellor George Osborne.

Chief executive Mark Clare said the First Buy initiative to help first time buyers get on the property ladder is “exactly the tonic the housing marked needed”.

Mr Clare said:  “It will give young people in their 20s and 30s renewed hope of buying their own home with a deposit of just a few thousand pounds – precisely the opportunity which their parents’ generation took for granted.”

“We also welcome the on-going commitment to cut the cost of regulation; to bring forward more public sector land for sale; and the assistance announced for institutional investors who want to invest in the residential property market.”

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