While I found the comments given by Lord Lawson at RESI very interesting, they do seem extremely blinkered.
In my opinion, the changes to stamp duty were made primarily to slow down the property market and not to raise funds for the Treasury.
The fact is that most first-time buyers are benefiting from the change in stamp duty and the only time these changes “attack mobility” is when someone wants to buy a home over £960,000.
Although these changes directly affect the business I work in, I believe the changes were needed and have had the desired effect.
With respect to Brexit, I am sure the UK economy will be stronger with some excellent agreements internationally. However, with the economy so fragile already, this was not the best time to create so much uncertainty, which could last for the next five years.
Kamran Mahmood, chief investment officer, PRS Invest
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