Philip Hogg, Chief Executive of home building industry body Homes for Scotland, said: "Whether helping to meet housing need, maximising economic return, creating vital jobs, maintaining skills, meeting climate change targets or tackling fuel poverty, no other industry has the potential to impact so many policy areas so positively and effectively as home building.
"We look forward to further announcements from the Scottish Government on how this new funding, together with any consequentials arising from previously announced details of £10bn of guarantees across the UK to support the building of first time buyer, affordable and rented homes as well as £225m to accelerate the delivery of large housing sites, will be allocated."
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Scottish Building Federation Chief Executive, Michael Levack, said: "The release of these funds places an even greater onus on policy-makers to implement urgent reforms to our constipated public procurement system so this money can put more shovels in the ground as soon as possible.
"In addition, the Chancellor could have given a much greater boost to smaller building companies in particular if he’d cut VAT on building repairs and improvements as the industry has long campaigned for him to do."
Sarah Speirs, director of the surveyors' body, RICS Scotland, said the extra money for capital projects "should aid growth in the construction sector and boost local economies across the country.
"The challenge is now really on to make delivery happen and the government clearly acknowledges the key role that construction can play in wider economic recovery."
Niall Stuart, Chief Executive of Scottish Renewables, added: "This is not an 'either-or' – the UK needs more investment in renewables, but it also needs new gas-fired generation to keep the lights on. The Government remains committed to 30% of the country’s electricity coming from renewable sources by 2020."
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