果冻影院 Autumn Statement reaction: Stamp duty reform takes centre stage

Last Updated:

3rd December 2014

Commenting on today鈥檚 (3 December) Autumn Statement announcement by the Chancellor of the Exchequer, George Osborne, 果冻影院 Economics Director Allan Wil茅n said:

鈥淪tamp duty reform formed the centre piece of the Chancellor鈥檚 2014 Autumn Statement. The change will remove long standing pricing distortions in the market caused by the tax and offers a welcome reduction in upfront costs for almost all house purchasers.

鈥淚n particular the reforms will narrow the deposit gap faced by first time buyers and should help re-invigorate housing market activity that has been cooling in recent months. The Chancellor鈥檚 move, combined with the prospect of real rises in household incomes, should help to sustain the recent growth in new private housing activity during 2015.

鈥淧rime residential housing is the one loser from the Chancellor鈥檚 announcement, which will add to the squeeze on high end property prices in central London that have already been impacted by Labour鈥檚鈥榤ansion tax鈥� plans.鈥�

PR contacts:

Kirsty Maclagan (Marketing and Communications Manager)

T: +44 (0)1202 786 842鈹侲: kirsty.maclagan@glenigan-old.thrv.uk

Allan Wil茅n (Economics Director)

T: +44 (0)751 579 4625| E: allan.wilen@glenigan-old.thrv.uk

Notes to the Editor:

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