CBRE: don’t expect housebuilding boost in Autumn Statement

CBRE Residential has predicted that tomorrow’s Autumn Statement will not provide a boost to housebuilding. It said it was unlikely that any new funds would be released after the £5bn announced at the Conservative Party Conference. £5bn in housing finance was earmarked for two funds for the HCA, which CBRE predicted would increase building by about 40,000 homes a year. CBRE did not make a call on stamp duty, but stressed that the government should consider reviewing the additional 3% stamp duty levy for second homes, saying that housing transactions had fallen by a third since its introduction. Jennet Siebrits, head of residential research, said: “Phillip Hammond has already admitted that there is a housing crisis and it needs tackling, saying that the government will use ‘all the tools at its disposal’ to increase the country’s housing stock. “However, while the conversations are happening, we remain unconvinced on whether the Autumn Statement will provide the tools needed to boost the housebuilding sector.” • To send feedback, e-mail alex.peace@estatesgazette.com or tweet @EGAlexPeace or @estatesgazette