Richard Pike, chief sales and marketing officer at Phoebus Software:
“The stamp duty land tax reform announced today is something that the industry has been crying out for.
“To hear the word ‘permanent’ means that we no longer have to brace ourselves for the onslaught from homebuyers trying to get purchases over the line before another looming deadline. Music to the ears of many conveyancing firms, which were put under immense pressure last year.
“The increase in the threshold for FTBs will enable more to get onto the property ladder, but there is still the question of supply.
“Although the chancellor announced plans to release government land to allow for development across the country, which is great news for future supply, that does not make more properties available now.
“The lack of supply is already pushing prices up and now that there is added incentive to move or buy that situation is only likely to increase. As ever the housing market is caught in a catch-22.
“The good news is that housing is definitely on the government’s agenda and that is something we’ve been calling for, for a very long time.”