Stamp duty reform is ‘urgent,’ Berkeley tells Burnham

Berkeley has urged Andy Burnham to implement urgent reform of stamp duty, describing the tax as a binding constraint for both housebuilders and buyers. The FTSE 250 firm claims stamp duty is responsible for the slump in new home demand, as it renders first-time buying unaffordable and discourages existing homeowners from relocating. Additionally, Berkeley is mindful that some potential buyers may defer their property transactions until after the autumn Budget scheduled for October to await further clarity.