Ahead of the Budget, Andrew Ellinas, Director of Sandfords comments on what he would like to see the Chancellor announce today.
March 16, 2016
“Unlikely to happen, but Mr Osborne needs to start reversing the stamp duty changes he has made. Over the last four years there has been an unfair amount of tax changes including stamp duty, land tax and capital gains. Landlords and homeowners have been completely restricted with these additional tax charges, all of which have been very damaging on the housing market as a whole. The most recent change, the 3% surcharge on buy-to-let and second home properties, due to begin on 1st April, will undoubtedly deplete the level of rental stock. Not only will people then not be able to afford to buy they won’t be able to rent either.
These so called ‘clampdowns’ as part of a spending review package are having a negative impact on the housing market. The Government has done what they always do and has been far too heavy handed causing the industry to suffer. Far from the conservative party being the property industry’s friend, they have in fact been our enemy making it increasingly more difficult and expensive for people to be able to afford to buy.
In addition to this, it looks like the Chancellor is going to make another step tomorrow that will again knock the property market when he announces an insurance premium tax; an increase in home insurance payments.
All of these tax changes have created a fairly static market, particularly in the London market. It doesn’t help that people are sitting on their hands until a decision is made on whether we stay in the EU or not, but something needs to change and I would like to see the Chancellor reverse some of the tax hikes he has implemented. The last thing he should be doing right now is making it more difficult for people by tightening their finances even further.”
You May Also Enjoy
Breaking Property News 12/5/26
Daily bite-sized proptech and property news in partnership with Proptech-X. Commercial real estate is entering a new era powered by artificial intelligence CRE is now powered by artificial intelligence, automation, smart data, and digital-first workflows. For decades, the industry relied heavily on spreadsheets, disconnected systems, and manual administration. Today, technology is becoming central to…
Read More
Breaking Property News 11/5/26
Daily bite-sized proptech and property news in partnership with Proptech-X. Do You Really Own Your Building’s Data? Commercial real estate is becoming increasingly dependent on digital infrastructure. Every smart sensor, HVAC system, access control platform, tenant app, and connected device inside a building is generating valuable operational data. The critical question many owners still fail…
Read More 
Rental price and average salary tracker – April 2026
Mixed Rental Trends Emerge Across UK as Regional Price Gaps Widen Scotland recorded one of the strongest monthly increases, with average rents rising from £1,123 to £1,167 (+3.9% month-on-month), reinforcing continued upward pressure in the Scottish rental market. Northern Ireland also saw significant growth, with rents increasing from £887 to £920 (+3.7%), alongside a fall…
Read More 
Seller over-expectation still impacting market
Home sellers still overpricing as just two regions see realistic price expectations The latest internal data analysis from House Buyer Bureau has found that just two regions, London and the South East, are currently seeing seller expectations align with market reality, whilst the rest of the country continues to price above market value, contributing to…
Read More 
Fledgling homeowners cut costs by taking on fixer-uppers to achieve dream home
66% of first-time buyers bought a cheaper home because it needed DIY or renovation work done Many choosing a ‘fixer-upper’ were able to buy in their preferred location, add value and put their stamp on it DIY almost mandatory among first-time buyers, with 93% completing at least one project since moving in But three quarters…
Read More 
House Price Index for April 2026 – Thoughts from the Indutry
The latest Halifax House Price Index for April 2026 shows that: – On a monthly basis, house prices remained largely static, down by just -0.1% between March and April 2026. Annually, house prices were up 0.4%, albeit this rate of annual growth had slowed from 0.8% the previous month. As a result, the average house…
Read More