View more on these topics

Stamp duty worsens housing crisis: Jones Lang LaSalle chief

Stamp duty is worsening the UK housing crisis by affecting supply, according to the head of property investment managers Jones Lang LaSalle.

JLL global chief executive Christian Ulbrich says homebuyers are “paying for nothing” with stamp duty, which hits landlords and second homeowners, according to the Telegraph.

Ulbrich adds that stamp duty makes it “prohibitive” to build more houses, despite former chancellor George Osborne cutting the tax for most house purchases in 2014.

He says: “For long-term development, stamp duty is definitely harmful, because the stamp duty in itself doesn’t create any value. It’s an additional cost that makes development more unattractive and it has to be considered in the pricing.”

Ulbrich also slammed the 3 per cent surcharge on buy-to-let properties and second homes, which he says has a “very strong dampening impact on the market”.

The JLL chief called for more homes to be built, and noted that infrastructure projects such as London’s Crossrail would help by expanding the commutable distance to the capital.


Bricks building housing construction

£60m housebuilding fund to be established with stamp duty revenue

The government has set up an annual £60m fund to help communities ‘affected by second homeownership’ using revenue accumulated from stamp duty hikes. The fund will be allocated to almost 150 councils over five years to assist them in providing affordable housing for first-time buyers in areas of high demand. Almost £20m is to be […]


Time to reconsider stamp duty surcharge, says Singh

It’s at this time of the year that we think about our Christmas wishes and, after this, our new year’s resolutions. From a personal point of view they might focus on relationship or health goals, perhaps just to be a better you, while from a professional viewpoint it might all be about building better businesses, […]


Chancellor called on to cut stamp duty for FTBs

Chancellor Phillip Hammond has been called on to cut stamp duty on housing transactions for first-time buyers in the Autumn Statement. First Complete sales operation director Toni Smith says the government should help FTBs to get on the property ladder by increasing the threshold or exempting them from paying stamp duty on house purchases, up […]

How to balance bottom-up with top-down research in constructing multi-asset credit portfolios

In this short video, Azhar Hussain, head of global high yield at Royal London Asset Management, explains how his team balance bottom-up with top-down research in constructing multi-asset credit portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up […]


News and expert analysis straight to your inbox

Sign up

Why register with Mortgage Strategy?

Mortgage Strategy continues to be the market-leading B2B mortgage publication in the UK, and provides trusted, independent insight with the aim of helping, promoting and analysing the latest developments for mortgage professionals.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Mortgage Strategy Events
Be the first to hear about our industry leading conferences, awards, webinars and more.

Research and insight
Take part in and see the results of Mortgage Strategy's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now