“Chancellor Philip Hammond delivered a bullish first Spring Statement today. Economic growth is up and higher than originally predicted, with an improvement in the global economy helping Britain. GDP for 2017 came in at 1.7%, up from the 1.5% predicted. Good news as it shows that Brexit isn’t having too much of an impact so far.  

As expected there were no major tax or spending rises, and again stamp duty was not addressed - the thorn in the housing market’s side, which needs a complete overhaul. There remains the huge tax burden on properties upwards of £900k. The higher stamp duty evidently hasn’t worked so far - it’s just served to freeze the market from the top downwards.

So a mixed bag as we move into the prime spring selling market, with no significant changes from the government. The economy is looking better – but again no changes to stamp duty for the higher end of the market, which ultimately is what we were all hoping for.”

For further information on Heronslea Group visit www.heronslea.net.