irishnews.com

Bellway Urges Immediate Stamp Duty Cut to Support UK Housing Recovery

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Sig1.50Sen-0.70Env0.00Soc+1.60Gov0.00

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.

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