Response to the Chancellor’s Budget, November 2017

The abolition of Stamp Duty for first time buyers up to £300,000 is a very good initiative, however, whilst it is a very welcome £5000 gift for these vulnerable groups, it never the less may serve to ‘stoke up’ the market at the lower end, which could perversely, work against them.

The former Chancellor Osborne, reduced Stamp Duty at the lower end which exacerbated inflation in this sector from circ 5-8%, particularly in London, and this served to disenfranchise buyers at this end of the market since their deposits were not rising at the same pace as prices. Continue reading

What should we wish for from the Chancellor in his Autumn Budget 2017?

The ‘broken housing market’ must be the biggest issue not only for the Chancellor but for the government and for the Country at large. There is much talk about reducing Stamp Duty, at the lowest level, which could further stimulate the market and in doing so, exacerbate the interests of the already moribund first time buyer who would be in a greater parlous state than at present, if Help-to-Buy is not significantly expanded at the same time. Continue reading