Persimmon, Taylor Wimpey and Bovis Homes shares jump 8-10% in wake of government housing market aid package

Shares in housebuilders revived yesterday following the government's decision to lift the stamp duty threshold for a year from £125,000 to £175,000.

Persimmon shares climbed 10% while shares in Taylor Wimpey and Bovis Homes both improved 8% in price.

The government also announced a package of other measures to boost the ailing UK housing market, including cheap mortgages for first-time buyers.

Peter Redfern, chief executive of Taylor Wimpey, told The Daily Telegraph that although the changes were headed in the right direction, the package was a group of “incrementally small but helpful things, that won't kick start the market”.