Property News · January 18, 2018

Stamp duty cut fails to help first-time buyers – business live


Chancellor Philip Hammond’s attempt to help first-time buyers onto the housing ladder isn’t working, says Britain’s chartered surveyorsRICS: Stamp duty cut for first-time buyers hasn’t helpedBut London surveyors are more hopeful 9.04am GMT Ouch! Britain’s largest estate agency has issued an unexpected profits warning, sending it shares slumping.Countrywide, which owns a string of estate agents around the UK, reported that revenues and profits both fell sharply last year.Total income in the sales and lettings business for the full year is expected to be circa £360m, down 14% on 2016, reflecting a disappointing fourth quarter performance. Income in the UK business is expected to be circa £205m, down 17% year on year, and in London is expected to be circa £155m, down 10% year on year. 8.53am GMT Today’s report from the Royal Institution of Chartered Surveyors (RICS) also shows that fewer people have been making inquiries about buying a house. Continue reading…

Source : theguardian.com
Read more…Stamp duty cut fails to help first-time buyers – business live

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