好色先生TV

Arcadis has called on Chancellor George Osborne to offer temporary stamp duty relief to new build homes planned before the tax was hiked in December 2014, after the consultant鈥檚 latest report showed buyer demand for prime properties has plummeted.

In its latest Prime Residential Pipeline report Arcadis said the drop in demand from buyers meant developers who had committed to schemes before the tax rise were being forced to discount prices or resort to 鈥榮tamp duty paid鈥� deals to ensure sales.

These deals have in turn hit developers鈥� margins by up to 4% on 鈥榩rime鈥� homes and by up to 7% on 鈥榮uper prime鈥� homes.

Mark Cleverly, head of commercial development at Arcadis, warned: 鈥淚n short, stamp duty is becoming a tax on development, not on wealthy buyers.鈥�

A number of London schemes have introduced discounted sales prices in recent months, including some in Nine Elms, south London, while stamp duty paid deals are being offered at prime developments including Barratt鈥檚 Fulham Riverside and Hadley Mace鈥檚 Greenwich Square.

Arcadis鈥� report found that some developers have opted to delay construction starts or are re-working schemes to ensure viability, which is having a knock-on effect on construction of affordable homes 鈥� planned as part of the original developments - with some being suspended.

Cleverly added: 鈥淭he Chancellor has to act on prime property tax. Despite initially encouraging investment in prime housing, the government since changed its mind and attempted to stem demand through ongoing tax increases and new fiscal regulations.

鈥淭his has prompted a drop in buyer interest at the very top of the market, creating a big problem for developers who had already committed to schemes and meaning affordable housing allocations are not delivered.鈥�