The Chartered Institute of Housing (CIH) has welcomed today's budget announcement of a new £250m to help first time buyers get a foot on the property ladder.

Sarah Webb, CIH Chief Executive, said: "Our housing market is still in intensive care but this measure to give first time buyers access to a sizeable deposit as an interest free loan is a welcome adrenaline boost. We are currently building fewer than half of the homes we need and anything the government can do to support new house building and support construction sector jobs is welcome."

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"The £250m fund is a useful short term boost, but it is important that we also address the fundamental question of how to sustain housing supply in the long term. Measures to reform the planning system will have a more significant role in this."

(CD/KMcA)