Landlord tax hits sales

GEORGE Osborne’s tax raid on landlords ‘unsettled’ the housing market in the first half of the year, according to estate agency Belvoir.

The former Chancellor – who was sacked by Prime Minister Theresa May following the EU referendum – raised stamp duty on expensive properties and second homes while in office, which came into effect in April. Belvoir chairman and chief executive Mike Goddard said the controversial moves and uncertainty ahead of the Brexit vote took their toll.

Belvoir reported a 60pc rise in first-half profits to £ 4.3m as business was boosted by three acquisitions. Stripping them out, revenues were up 10pc.