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British PM pledges thousands of cheaper homes in London

Xinhua, October 7, 2015 Adjust font size:

Prime Minister David Cameron announced a national housing campaign Wednesday to help young families climb onto the housing ladder.

Addressing the Conservative Party's annual conference, he described housing as one piece of unfinished business in the economy.

He said: "A greater Britain must mean more families owning a home of their own," adding 600,000 new homes have been built in the last five years.

The price of the "starter homes" will be capped at 250,000 pounds (382,000 U.S. dollars) across the country and in London where property is more expensive the cap will be 450,000 pounds (688,000 U.S. dollars).

The campaign is expected to see 200,000 new homes built by 2020, a Cameron spokesman said later.

Cameron's hour-long speech brought the conference to a close. Endit