House builder Persimmon Homes has announced plans to build 80,000 new properties and 1,000 jobs over the next five years.

The announcement was made as Chancellor George Osbourne visited one of Persimmon's housing developments in Essex.

Since 2012, the company has increased the number of homes completed each year by 50%.

During his Spending Review at Parliament yesterday, the Chancellor unviled a number of proposals for construction and housing.

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During his visit in South Ockenden, Mr Osbourne said: "One of this government's top priorities is backing working families who aspire to own their own home. So we've got to get Britain building, and I'm encouraged to hear about Persimmon's plans to build 80,000 homes.

"We made a start tackling the home ownership crisis in the last Parliament - but there's much more to do to turn Generation Rent into Generation Buy."

Persimmon's CEO Jeff Fairburn added: "Home ownership continues to be an aspiration for the majority of British people and these latest initiatives announced yesterday by the Chancellor should help that dream become a reality for many more people.

"The new schemes announced yesterday, which include Help to Buy Shared Ownership, London Help to Buy and the Starter Home initiative will all help even more people into home ownership."

(LM/MH)