U.K. housebuilding stocks jumped after the ruling Labour party said its Oct. 28 budget would include the Your First Home initiative. The program is expected to support first-time buyers purchasing new-build homes from selected developers with 2.5% deposits and 20% government-backed equity loans, initially interest free and subject to household income and local property price caps. Developers would pay fees to participate. Taylor Wimpey, Vistry Group and Bellway initially rose more than 20%, while Persimmon gained 15% and Barratt Redrow rose 12% at 11 a.m. London time. Investors and analysts said the plan could support demand, but its effect will depend on eligibility rules and duration. The government said it aims to increase housing supply and revive a new-build market pressured by international economic conditions and rising construction costs.