Property Newsroom

Reaction from Martin Bikhit, Md Of Kay & Co.

Chancellor Philip Hammond has a spring in his step as the nation’s financial health has not only survived the winter chills better than expected, it is positively blooming. His tax take is up, and productivity is up, too.

Figures from the Office for National Statistics show that borrowing is now at its lowest level since the financial crisis. An improvement in the global economy has also helped Britain, with GDP growth for 2017 coming in at 1.7%, up from the 1.5% predicted.

Today, the Chancellor announced that 60,000 homes have benefited from the Stamp Duty relief introduced in the Autumn Budget, and its pledge to get Britain building again is on track delivering more homes to areas with the highest demand. This includes £1.7 Billion investment in London with 26,000 more affordable homes.

“So, we spring into the house buying season with no significant setbacks from the government. This is positive news for both buyers, sellers and the industry as a whole,” says Marin Bikhit, Managing Director of Kay & Co. “Economic conditions are showing some improvement, and the sun usually brings the buyers out, so we are ready to greet the season with optimism. Philip Hammond promised “no red box, no official document, no spending increases, no tax changes”. “No other economy makes hundreds of tax changes twice a year, and neither should we,” he said. For once, a politician is sticking to his word.

For further information on Kay & Co on 0207 262 2030 or visit www.kayandco.com

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