Berkeley stocks up on housebuilding increase

<p>Berkeley expects significant growth in housebuilding in 2013.</p>

Stocks in housebuilder Berkeley Group are up today (March 18th) after the firm's latest forecast.

It was announced by the firm it expects to complete 30 per cent more houses in 2014 than at the peak of the sector in 2007, before the global financial crash and the subsequent UK recession.

Berkeley added that the government's Help to Buy scheme has been a boost the property sector, while the chancellor George Osborne also recently announced he is to extend the equity loan scheme for new homes until 2020.

Mr Osborne also revealed plans to build thousands of new homes in Ebbsfleet, creating a new garden city in the area.

In a statement, Berkeley said the Help to Buy scheme "has helped the acceleration of delivery of new homes across the sector". It added: "We are working to deliver more, but reiterate the importance of maintaining a stable and predictable regulatory and taxation environment to enable this continued investment."

Following this news, stocks in the housebuilder rose by almost two per cent. By 09:18 GMT this morning, its share price was 1.7 per cent up for the day and still rising steadily.

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