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Eversheds Sutherland comment: Budget – glaring lack of property sector statements signals missed opportunity

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    Following today’s UK Spring Budget, Bruce Dear, head of London real estate at Eversheds Sutherland, comments:

    “The housing shortage is the UK’s seemingly unshakeable hex. We need to build 400,000 homes a year and we instead manage a measly 100,000. This is a standing national embarrassment. The lack of action on this issue in the Budget was noticeable and signalled a missed opportunity.

    “Hunger for pension-matching income can marry into solving the UK’s chronic residential deficit. The Government could encourage this virtuous union by cutting the 3% stamp duty on institutional BTR and it was disappointing to see this left unaddressed today.”

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