CML responds to pre-budget statement

Jennet Vass, CML senior economist, commented: "For the housing and mortgage markets, today's statement brought some good news - or rather, the absence of any bad news in the form of increased stamp duty rates. On balance, today's statement reinforces our central forecast that the housing market remains set for a relatively soft landing. At the same time, the risk of a bumpier ride continues to increase - and nothing the Chancellor said reduces that risk."