Nick Jopling, Executive Director of Property at Grainger plc and Chairman of the Urban Land Institute’s UK Residential Council, commenting on the Budget, said:
“Housing is critical to the UK’s economic recovery. For every pound spent on building a new home, more than three pounds go back into the economy. The Chancellor’s commitment in today’s Budget of the stimulus to house building is, therefore, very welcome. We have been building too few homes over recent years along with an anaemic mortgage market and the enormous challenge facing first time buyers for saving up for a deposit.