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David Miles, the incoming member of the MPC, has this evening suggested that the worst of the UK recession may be over and house prices may have bottomed out. While there is some scepticism with...
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Friday 8th August 2008
In a move which could well attract a mass of interest from potential house buyers, Barratt Homes has announced an offer to pay the stamp duty on new purchases, even if the government decide not to suspend the tax in the short term. As ‘Rome burns’ the government’s lack of action has created a paralysis in the housing market with more and more home buyers looking to wait until a potential scrapping of stamp duty is announced later this year.
This is a classic marketing campaign from Barratt Homes and one which deserves to be successful even if just for their sheer nerve and ability to make good out of a rotten situation. However, this deal has not stopped Barratt Homes joining the chorus of disgruntled players in the property market and piling more pressure on the government to clarify its position.
News that the Chancellor Alistair Darling pulled out of a BBC interview after being warned that he would be asked to clarify the position on property purchase stamp duty has further muddied the water. If the government had looked at the issue seriously surely they would be ready to move now? Or is this yet another ‘we are listening’ episode which looks like back firing dramatically? |
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