openPR Logo
Press release

Commenting on today's budget, Grenville Turner, Chief Executive of Countrywide, the UK's largest property services Group said ;

03-25-2011 04:57 PM CET | Industry, Real Estate & Construction

Press release from: Countrywide

"The measures announced today are a step in the right direction for the thousands of buyers struggling to get on the property ladder. First time buyers underpin the property market and there is pent up demand for assistance like this. As the UK's largest new build agent, we're confident that the launch of the Firstbuy direct scheme will encourage more first time buyers to purchase new build properties – which is great news for both first time buyers and housebuilders.
"However it is disappointing to see a lack of measures to assist the vast majority of homemovers. A stamp duty holiday for all purchases up to £250,000 would have been a welcomed boost to the resale market.
"Mortgage accessibility and affordability remains a critical issue, as 70 percent of all mortgages applied for in 2010 required a minimum of 25 percent deposit.* As the UK's largest mortgage broker and letting agent, our records show that many buyers are still unable to raise the large deposits currently required by mortgage providers. This is increasing the demand for rental properties. So far this year we have seen a 14 percent fall in the number of rental properties available on the market, whilst the number of tenants applying for rental accommodation has hit a record high – with a 37% increase on last year.
"This lack of supply and growth in demand looks set to continue, as today's budget did not provide any incentives for buy-to-let landlords. Despite the increase in capital gains tax being lower than originally expected, the 10 percent increase will invariably make new investors think twice."

http://www.countrywide.co.uk

Countrywide is the UK's leading provider of integrated property services, employing around 8,000 personnel nationwide. Its UK network of local brands provides both corporate clients and home movers with a comprehensive range of property related solutions, delivered with valuable local expertise.

Countrywide House
88 - 103 Caldecotte Lake Drive
Caldecotte
Milton Keynes
Buckinghamshire
MK7 8JT

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Commenting on today's budget, Grenville Turner, Chief Executive of Countrywide, the UK's largest property services Group said ; here

News-ID: 168285 • Views: 2053

More Releases from Countrywide

Countrywide reports marginal improvements in the housing market
There were some modest signs of improvement in the residential housing sector, with buyer, tenant and mortgage applications increasing in February; according to Countrywide, the UK's largest Property Services Group. Property viewings - one of the leading indicators of buyer appetite - increased by 40 percent in February[1] across Countrywide's network of 1,300 estate agency and lettings offices. The number of sales agreed also rose 47 percent[2] in February; however, overall
Dixons Estate Agents expand network in Birmingham
Rising confidence in the Birmingham property market has enabled Dixons to expand its branch network across the Midlands with the opening of a new flagship branch in Birmingham City Centre. Operating for over 80 years, the growing market across the Midlands has enabled Dixons to open its 36th office in the region. The new branch is situated opposite the entrance to Birmingham's renowned Mailbox in Westside on the Suffolk Queensway in Birmingham,
Countrywide expands letting operation in the North East
Countrywide, the UK's largest letting agent and property services Group, is continuing its expansion plans with the purchase of North East specialist letting agents Property Quarters. Property Quarters is a long established brand that has been operating in the North East for over 33 years through its flagship branches in North Shields and Whitby Bay. Margaret Longden, Co-Managing Director said: "Property Quarters has always impressed us and we're proud to
Countrywide comment on the findings of the English Housing Survey
Commenting on the findings of the English Housing Survey, Grenville Turner, Chief Executive of Countrywide, the UK's largest property services Group, said; "The UK has traditionally been a nation of homeowners and whilst millions still aspire to buy their own property, current market conditions make that more challenging than usual. Our agents saw a 17 percent increase in new buyer enquires during 2010 but market transaction levels remained flat[1]. "Successive governments have

All 5 Releases


More Releases for Caldecotte

Countrywide comment on the findings of the English Housing Survey
Commenting on the findings of the English Housing Survey, Grenville Turner, Chief Executive of Countrywide, the UK's largest property services Group, said; "The UK has traditionally been a nation of homeowners and whilst millions still aspire to buy their own property, current market conditions make that more challenging than usual. Our agents saw a 17 percent increase in new buyer enquires during 2010 but market transaction levels remained flat[1]. "Successive governments have
New auctioneer joins Countrywide Property Auctions
Andrew Jarrold has been appointed Head of Westcountry Property Auctions, the South West division of Countrywide Property Auctions. Westcountry Property Auctions is part of Countrywide, the UK’s largest property services Group, operating 1,300 estate agency and lettings branches, holding approximately 58 auctions across the UK. Announcing Andrew’s appointment, Mark Tanton, Managing Director of Countrywide Property Auctions said; “We’re delighted to have Andrew on board. Andrew has a wealth of experience in
Countrywide launch valuation service with First Direct
Countrywide has started supplying its valuation service to First Direct, one of the industry's top financial brands. Countrywide now provides Homebuyer Reports and Buildings Surveys to First Direct's customers through its network of 350 Chartered Surveyors as part of an agreement which commenced this month. Under the terms of the new agreement, Countrywide has developed tailored processes and systems to meet First Direct's specific requirements. Countrywide Surveying Services is part of Countrywide, the
Countrywide announces new leadership for Financial Services division
Countrywide, the UK's largest mortgage broker and property services Group, has announced Alan Snowball's retirement from the business. Alan joined Countrywide in 1998 to set up a franchising operation before moving to the financial services division in 2005 to oversee Countrywide's mortgage and insurance offering. Alan will work alongside Nigel Stockton, who will take over the running of Countrywide's mortgage and insurance services in a new role as Financial Services Director.* Announcing the
Countrywide win new surveying contract with Kent Reliance
Countrywide Surveying Services has been appointed sole valuation panel manager for Kent Reliance Building Society. Following a successful tender process, Countrywide will exclusively manage all valuations for Kent Reliance. Countrywide has a long standing relationship with Kent Reliance, providing valuation support services since 2005. In its new role as valuation panel manager, Countrywide will continue to utilise its unique Tablet PC technology to undertake Kent Reliance valuations throughout the UK. Countrywide Surveying Services
Accord joins Countrywide Mortgage Services
Accord Mortgages has joined forces with Countrywide Mortgage Services and is now on its panel of mortgage lenders. Countrywide is the UK's largest mortgage broker, operating approximately 700 mortgage consultants across the UK, offering exclusive products through a panel of mortgage lenders. Countrywide's customer proposition also enables consultants to source a range of off-panel products for specialist lending cases or for customers seeking specific mortgage products. The news follows the merger