They say an Englishman s home is his castle. Perhaps that is why Chancellor Rishi Sunak has been at such pains to protect Britain s housing market from the negative economic impact of coronavirus.
The UK s housing stock accounts for around a third of all our wealth, so if it were to fall in value, it could have a catastrophic effect on consumer confidence. But Rishi s recent Budget boosts – a continuation of the stamp duty holiday followed by a tapered finish, as well as Government backing for 95 per cent mortgages – seem aimed at ensuring that the housing market continues to rise.
Rishi s intervention is good news for Britain s housebuilders, which explains why many analysts and investment managers are now feeling positive about the sector.
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