Craig Vile, director at ValPal, reacts to Autumn Statement:
November 25, 2016
_We needed some bold announcements on property from the Chancellor today but all we have seen are temporary sticking plasters to appease the market.
In reality the ban on letting agent fees will not benefit tenants, the costs have just been passed over to the Landlords, which will in the end be passed on to tenants through increased rents, or restrict the buy to let market.
It_s disappointing and short sighted that the chancellor hasn_t made any changes to stamp duty. Disproportionate stamp duty taxes at the upper end of the market over the last two years have done more damage than anything else in restricting transactions, including Brexit.
Releasing funds for the build of new homes is a positive move but this needs to be more, to meet demand _ again a conciliatory move.
Surely it_s no revelation that a buoyant property market is good for the economy.ÿÿWe need to see policies in place to enable and increase a free flow of transactions from the top end of the market to the bottom.ÿÿ
We would call for reduced stamp duty across the board particularly on second homes and more help for residential developers.
Currently at ValPal, our valuation data shows the market as fairly stable, but it needs a boost if we are not going to see a drop off in transactions over the next year, as the impact of Brexit kicks in._
You May Also Enjoy
The Future of Urban Real Estate: Trends and Predictions for 2026
Affordability pressures, hybrid work arrangements, and steep borrowing costs are heavy influences on urban real estate for 2026. We’re seeing an increase in mixed-use development and a renewed focus from investors on markets with a steady demand. Markets that can balance housing access, transportation, lifestyle amenities, and flexible workplaces will come out on top. Major…
Read More 
London’s prime residential market isn’t falling — it’s repricing
By Daniel Austin, CEO and co-founder at ASK Partners London’s prime residential market has looked subdued by global standards, but framing current conditions as a decline overlooks the more important underlying dynamic. The market is undergoing structural repricing driven by higher interest rates, shifting tax policy and a more volatile geopolitical environment. This is not…
Read More 
Foxtons Lettings Market Index – April 2026
Market activity strengthens with applicant demand recovering and supply remaining ahead of last year After the implementation of the Renters’ Rights Act, April provides the final snapshot of market conditions ahead of implementation, offering a clear benchmark for how the sector is positioned entering this new regulatory environment. The lettings market strengthened through the…
Read More 
Five hidden costs catching home buyers out
FIVE hidden costs that’re catching home buyers out, AFTER they put their offer in, says expert • Buyers often focus on deposits and mortgages, but overlook thousands in extra costs • Delays, surveys and legal fees can quickly inflate budgets • Unexpected gaps in funding are becoming increasingly common A lot of home buyers think…
Read More 
Housing Insight Report: March 2026
Buyer activity and sales agreed picked up this month as the housing market entered the spring season, with increased stock levels giving consumers more choice despite ongoing affordability pressures. Meanwhile, the rental market remained highly competitive, as tenant demand continued to outstrip supply and concerns over future regulation weighed on landlord confidence. Sales 1. The…
Read More 
Renters’ Rights Act risks leaving the tenants it set out to protect with fewer options
Fewer than a third of landlords are fully aware that the Renters’ Rights Act bans advance rent payments of more than one month, according to new research from LRG. The survey of 650 landlords and tenants across England and Wales found that 43% know the rules have changed but remain uncertain of the details, while…
Read More