Budget comment

22 November 2017

Richard Pike, Phoebus Software sales and marketing director, says “At last the calls for stamp duty reform have been answered in today’s budget.  There has been a generation of first-time-buyers struggling to save for their dream home and this will be a big step in getting them on to the housing ladder.  What this will mean for the wider housing market will be very interesting.  The £300,000 cap (apart from in high price areas) will more than likely have a similar effect on house prices as the increase to 2% at £250,000 did in 2010.  Will sellers be prepared to keep below the £300,000 if it means selling to a first-time-buyer with no chain? 

 

“The government has shown it’s intent for the housing market.  Now we just need to see it put into action, especially when it comes to empty properties and ensuring land with planning permission is built upon.  Even with the help for first-time-buyers the market will not be ‘fixed’ until supply is keeping up with demand.”

Media contact

Debbie Staveley
Director and Owner,
bClear Communications

Telephone
+44 (0)1275 542 511

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