UK housebuilding giant urges government to support first-time buyers
Sales have slowed as purchasers wait to hear whether the Chancellor will make changes to stamp duty, capital gains tax and council tax on November 26.
Jennie Daly, boss of one of Britain's biggest house-builders, has urged the government to provide more support for first-time buyers ahead of the Chancellor's autumn budget.
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Ms Daly, chief executive of Taylor Wimpey, warned the property market has cooled in the "very long shadow" of the impending Budget.
Sales have slowed as purchasers wait to hear whether the Chancellor will make changes to stamp duty, capital gains tax and council tax on November 26.
Speaking ahead of the Budget, Ms Daly argues that pushing green measures and the "accumulation of regulation" has the "perverse outcome" of making new properties unviable in poorer areas of the UK.
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Following the ending of a stamp duty holiday in March marks the first time in over half a century that no direct support has been provided to first-time buyers, Ms Daly noted.
Rival housebuilder Barratt Redrow has echoed the call for practical support.
Barratt Redrow owner David Thomas has highlighted the lack of support for those looking to be first-time homeowners.
Recent years have seen inflation and borrowing costs soar, slowing down the market - particularly where first time buyers are concerned.
It comes as the FTSE 250-listed Taylor Wimpey told shareholders that it had achieved a net private sales rate per outlet per week of 0.63 between 30 June and 9 November - a figure that's down from 0.71 last year.
It all feeds into a wider sense of weak consumer confidence, with leading UK homelessness charity Crisis announcing that it's set to become a landlord by buying up properties in an attempt to counter the ‘catastrophic’ UK housing market.
The company, which owns around 4,300 venues, is reportedly considering selling off some of the chain's best properties in a deal reportedly to be worth around £1 billion.
It is believed that Stonegate remain in discussions with advisers at this time, according to reports.Despite bringing in over £1.7 billion last year, the company has accrued debts of more than £3 billion over the past few years.