Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
Bellway Urges Stamp Duty Cut and Support for First-Time Buyers
Bellway, a major UK housebuilder, has called on the government to cut stamp duty in an effort to boost the housing market. The company’s chief executive, Jason Honeyman, requested an immediate reduction in the tax to ease affordability constraints and stimulate demand.
The prime minister has previously stated that stamp duty will remain unchanged in the upcoming Autumn Budget. In addition to the call for a stamp duty cut, Honeyman also urged the government to introduce a deposit support scheme for first-time buyers, aiming to help deliver more new housing.
In its latest trading update, Bellway reported that it now expects annual underlying operating profit of £320 million at its full-year results in October, which is at the lower end of its forecasts. The company also warned of near-term uncertainty, citing a prolonged period of softer customer demand alongside inflated building costs.
Despite these challenges, Bellway reported a 10.8% increase in total housing completions, reaching 9,695 homes in the year to 31 July 2026, compared to 8,749 in the same period of 2025. The housebuilder stated it has continued a disciplined approach to land acquisition, contracting to buy 8,578 owned and controlled plots during the year, a slight increase from 8,120 plots in 2025.
These developments are relevant for UK letting agents and inventory clerks, as changes in stamp duty and support for first-time buyers could impact market activity and demand for rental properties.
Source: Mortgage Strategy