Housebuilder's confidence in buoyant market

Karl Hick, chief executive of Larkfleet Homes, based in Peterborough and Bourne, says the new homes market in 2018 will benefit from last year’s budget.

Mr Hick said: “Possibly the most important announcement in the budget was that most first-time buyers will not have to pay Stamp Duty.

“This will give a significant boost to the ability of young people to get onto the ‘housing ladder’ and thus help to stimulate the market overall.

“The tax changes and spending pledges in the budget aimed at boosting housebuilding and construction came alongside an announcement of the government’s industrial strategy which is also a significant move in the right direction.”

However, Mr Hick has also voiced concerns about the impact of Brexit.

He said: “Many EU nationals are leaving the UK and others are less willing to come. Without action to tackle this issue there must be doubts about the ability of the construction industry to meet the government’s target of building 300,000 new homes every year by the mid-2020s.”