The chancellor's pre-Budget report included recommendations for speeding up development on brownfield land. Gordon Brown said: "Local authorities will be obliged to accelerate consent for high quality developments on brownfield sites. We are providing land for new homes and asking local authorities to bring forward new brownfield land." The chancellor also announced the proposed introduction of real estate investment trusts (reits) "to increase funding for new property development." Another key measure aimed at boosting the housing market announced as part of the PBR is the government's homebuy proposals. Open market homebuy, new build homebuy and social homebuy are aimed at encouraging first time buyers into the market, through the provision of shared equity schemes in partnership with the CML, Nationwide, Halifax and other equity providers.