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Housebuilder Crest Nicholson said today it would build more homes on the back of George Osborne鈥檚 Budget pledge to extend the government Help to Buy scheme to 2020.

In an interim management statement the firm said the extension of the Help to Buy scheme, confirmed in yesterday鈥檚 Budget, provided 鈥渁dditional certainty for business planning鈥� in the medium term.

The statement added that the extension supported 鈥渢he investment in skills and capacity required to deliver an increasing number of new homes鈥�.

Sales at housebuilder Crest Nicholson have risen 13% in the start of its financial year in November on the previous year, with 0.86 homes sold per site per week.

The housebuilder said it had now taken 58% of the reservations needed for the whole year to November, with 拢330m of sales reserved, 50% more than that reserved at this point last year.

The firm also said that it had seen evidence of steadily rising house prices in its markets, including outside of the capital, with rises in London starting to 鈥渞ipple鈥� out to the home counties.

However the firm said that cancellation rates had risen from 8% to 12%, and that it hadn鈥檛 increased the number of sites it was selling from significantly.

Chief executive Stephen Stone said: 鈥淢arket conditions throughout our areas of operation continue to be favourable and the business is responding by increasing our delivery of new homes. We are continuing to add value to our land bank and to progress opportunities to develop the business for the benefit of all our stakeholders.鈥�