U.K.'s New First-Time Buyers Program Likely to Boost Property Sector
Dow Jones
Sep 28
0814 GMT - The U.K. government's new first-time buyers program is likely to have a significant effect on the property sector and home building in particular, Quilter Cheviot analyst Oli Creasey says in a note. The government has fallen behind its target to build 1.5 million homes during this parliament and, although it remains a very challenging target, the program should help get closer to this goal, Creasey says. "The announcement is likely to have a positive effect on house prices, boosting demand and injecting capital into the system," he says. MJ Gleeson and Persimmon are up 15%, with Barratt Redrow and Taylor Wimpey trading 14% higher.
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