Berkeley Urges UK Property Tax Cuts
British homebuilder Berkeley Group has urged the government to reduce property taxes to support subdued housing demand ahead of the upcoming budget. The company called for stamp duty reforms to help first-time buyers and increase rental supply. Prime Minister Andy Burnham has previously denied plans to scrap the tax.
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BERKELEY GROUP HOLDINGS urged the United Kingdom government on Friday morning to cut property taxes as cautious buyers stall housing demand ahead of October's budget. The London-focused homebuilder called for stamp duty reforms, including a 1% cap for first-time buyers and downsizers. The proposal aims to ease affordability constraints across the property market.
