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Budget reaction from Rob Jupp, CEO of Brightstar PDF Print E-mail
Wednesday, 08 July 2015

Rob Jupp, CEO of Brightstar, comments on today’s budget speech by the Chancellor of the Exchequer

“The budget was surprisingly light on information to boost the housing market.  The announcements on the mortgage interest rate for buy-to-let to the lower rate tax band is likely to have quite an effect though and could well dampen the market.  Ironically not for the lower end ‘accidental’ landlords who are less likely to be disadvantaged by the move and not for company schemes who invest in property.

“Measures have been needed to create more of a balance for first time buyers who have often been disadvantaged by investors with a greater means to buy, so time will tell whether this announcement goes a step towards readdressing the balance.
“What we really needed to hear were measures as to how more housing will be built to ease up the supply and demand issues.  The planning announcement on Friday needs to make it easier to build more houses especially in brown field areas in order to help keep house prices under control, although the markets don’t seem optimistic for house building prospects as the shares in house builders have already dropped since the budget.”

(Source - Brightstar Comment)

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