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 New homes market offers cure to government’s ailing housing policy
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New homes market welcomes greater transparency
David Bexon, Managing Director of SmartNewHomes.com, welcomes the introduction of a new valuation process and the tightening of standards, by the CML and RICS today, which will result in greater transparency within the new homes market:
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Comment on research by the Energy Saving Trust
David Bexon, Managing Director of SmartNewHomes.com, comments on research by the Energy Saving Trust, which shows that consumers are prepared to pay a premium for an energy efficient home:
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Developers align prices to meet buyer expectations
SmartNewHomes.com has recorded a second consecutive monthly fall in new home prices in July, as developers continue to reduce prices to meet buyer expectations in a bid to entice further activity in the market.
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Ludicrous decision to hold interest rates
David Bexon, Managing Director of SmartNewHomes.com, comments on this month’s decision from the Bank of England’s Monetary Policy Committee (MPC) to hold interest rates at 5.0%:
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Industry welcomes scrapping of stamp duty
David Bexon, Managing Director of SmartNewHomes.com, comments on recent speculation that the Prime Minister is considering suspending stamp duty, in an attempt to rescue the economy:
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David Bexon, Managing Director of SmartNewHomes.com, comments on the Government’s announced ‘rescue package’, including a new £300m shared equity scheme from Communities and Local Government (CLG):
“Developers are under increasing pressure to keep homebuyers in the market, so I welcome any proposals that will help to free-up some of the additional financial burdens they are currently undertaking.
“If delivered effectively, CLG’s proposed £300m shared equity scheme should go some way to helping developers bring more first-time buyers to the market and ultimately meet the new home targets set out by the Government.
“While it is encouraging that the Government has indicated some intention to help buyers at the lower end of the market, its announcement over stamp duty falls a long way short of what homebuyers had been hoping for following rumours of a complete suspension of the tax in recent weeks.
“Many developers are already offering to pay stamp duty for customers on all their properties, so the new homes market has remained largely unaffected by the Chancellor’s dithering on this subject. However, axing stamp duty for properties below £175,000 will offer some reprieve for developers who will no longer have to shoulder the cost at this end of the market.”
See Also: Press Releases (379)
Date Published: 02 September 2008
