BlackRock’s Rick Rieder Favors Bonds Over Stocks as Treasury Yields Surge 
China Industrial Profit Growth Slows as Weak Demand Offsets AI Gains 
China Agrees to Buy 20 Million Tons of U.S. Coal 
China Cuts Tariffs on U.S. Farm Goods but Excludes Soybeans 
China Consumer Stocks Near Decade Lows as AI Shares Surge 
U.S. Stock Futures Fall as Iran, Oil and AI Risks Rattle Markets 
Asian Chip Stocks Tumble as OpenAI Safety Pause Sparks AI Growth Concerns 
XRP Price Targets $1.70 as Bullish Momentum Builds 
RBA Set for September Rate Hike as Inflation Stays High 
Nvidia China Chip Sales Report Sends Chinese Semiconductor Stocks Lower 
Australia Budget Deficit Narrows to A$22.3 Billion on Stronger Tax Revenue 
Oil Surge Pressures Global Stocks as U.S.-Iran Truce Hopes Fade 
Oil Prices Jump Nearly 3% as Iran Holds Firm on Hormuz Conditions 
Hong Kong Home Prices Stabilize in August After July Decline 
Trump to Ease U.S. Fuel-Economy Standards 
Asian Currencies Weaken as Dollar, Oil Prices Rise 
Asian Stocks Fall as Oil Surge, Bond Yields and AI Concerns Hit Markets 
Add as a preferred source on Google
British housebuilder stocks rallied on Monday after the UK government announced plans for a state-backed equity loan program designed to help first-time buyers purchase new-build homes with deposits as low as 2.5%.
The Ministry of Housing, Communities and Local Government said the “Your First Home” scheme will be formally confirmed in next month’s Budget and will apply to properties in England.
Under the proposed program, eligible first-time buyers could purchase a new-build property with a 2.5% deposit and receive a government-backed equity loan covering 20% of the purchase price. Homes must be bought from developers participating in the scheme.
The announcement triggered sharp gains across UK housebuilder stocks. Shares of Berkeley Group Holdings, Persimmon, Barratt Redrow, Taylor Wimpey, Bellway, Vistry Group and Crest Nicholson climbed between roughly 3% and 14.5%. Persimmon was among the strongest performers, while Bellway shares jumped nearly 13%.
The equity loans will initially be interest-free, potentially reducing monthly housing costs by hundreds of pounds compared with taking out a mortgage covering 95% of a property's value, according to the government.
Officials said the initiative is aimed at reducing one of the biggest obstacles facing first-time homebuyers: raising a sufficiently large deposit. Household income limits and regional property price caps will be introduced to ensure the assistance is targeted at eligible buyers, with further details due in the Budget.
The government also hopes the program will support Britain's new-build housing market, which it said is facing pressure from higher construction costs and broader international economic challenges.
By stimulating demand for newly built properties, policymakers expect the scheme to encourage housing development and increase supply. Participating housebuilders will be required to contribute toward the cost of the program when joining.
The strong rally in UK housebuilder shares suggests investors expect the policy to provide a meaningful demand boost for developers by making newly built homes more accessible to first-time buyers.
