Steven Bruck, a partner at Blick Rothenberg Chartered Accountants, says: "The Chancellor wants to encourage new building and help hard pressed buyers with inadequate deposits.
"He has announced interest-free loans of 20 per cent on properties up to £600,000. He has also announced up to £130bn of mortgage guarantees by the Government.
"He clearly sees encouragement of new builds and property ownership as a major priority. It will be interesting to see the detail on this as it could be significant."