Countrywide comment on the Chancellor's Autumn Statement 2011

Countrywide

Tuesday, November 29, 2011

Commenting on the Chancellor's Autumn Statement, Grenville Turner, Chief Executive of Countrywide, the UK's largest property services Group said;

"At a time where deposit affordability remains a significant barrier to not only first time buyers, it is disappointing that the Chancellor did not take the opportunity to extend the Stamp Duty holiday for first-time buyers and has instead added another barrier for first-time buyers to get onto  the property ladder. A positive antidote to assist the vast majority of  homemovers and the resale market would have been a Stamp  Duty holiday for all homebuyers up to £250,000

"Whilst the measures announced in the  Government's housing strategy are a step in the right direction, they only scratch the surface of  the fundamental issues that have restricted the housing market in recent years- housing supply and the high level of deposits required.  The prediction that 100,000 families will benefit from the Mortgage Indemnity Scheme may be optimistic, as were yet to hear the detail of whether it enables lenders to offer cheaper rates."

ENDS

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