For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails Email * SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our Privacy noticeResidential developer Bellway has urged the Government to introduce an immediate cut to stamp duty to help kickstart a recovery across the UK property market. Based in Newcastle, the housebuilder is among several firms facing subdued interest for new properties amid high mortgage rates and squeezed household budgets. Prime minister Andy Burnham last month dismissed prospects of a significant overhaul of stamp duty in the Autumn Budget. “In order to ease affordability constraints and stimulate demand, an immediate reduction in stamp duty alongside a Government-backed deposit support scheme for first-time buyers would both drive economic growth and accelerate the delivery of much-needed new homes across the country.”