Bellway Urges Immediate Stamp Duty Cut to Support UK Housing Recovery
Housebuilder Bellway urged the Government to cut stamp duty immediately to support a recovery in the UK property market. The FTSE 250 firm warned near-term demand is uncertain as building costs stay high and consumers remain cautious amid rising mortgage rates. It reported competition up 10.8% to 9,695 homes over the year to July 31, with underlying operating profits forecast to rise to about £320 million.