Autumn Budget Statement – What’s in it for Housing?

November 23, 2016

Later today the Chancellor Philip Hammond will deliver his Autumn Budget Statement to the House of Commons, it will be the first for the new Chancellor and Prime Minister Theresa May.

Some experts are expecting a possible cut in stamp duty on house purchase to help regenerate the housing market which appears to have slowed slightly since the Brexit vote, there is a chance that Hammond may remove the private rented sector from the stamp duty premium charge. A campaign by The Telegraph has been calling upon Philip Hammond to review the stamp duty system, according to a report from them it has recently had the backing for it from chief executive of haart, Paul Smith.

Help to Buy was extended from 2020 to 2021 last year, an extension of this scheme by one or more years would be very welcome by housebuilders, especially Persimmon who can attribute half their sales to the equity loan scheme.

House building should figure strongly and it is reported the possibility of a ban on fees from letting agents to tenants will be announced, however such a ban would go against what the Housing Minister Gavin Barwell MP mentioned in one of his tweets recently, he remarked that banning letting fees would be a ‘bad idea’.

An update on the Autumn Statement and how it will affect housing will be posted on our ‘Breaking News’ either later today or first thing tomorrow.

 

 

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Breaking News

Rental supply climbs 15% despite landlord uncertainty

The latest research from Dwelly has found that, despite what has been an incredibly uncertain year for landlords – marked by political back and forth over the Renters’ Rights Act, its eventual approval, and the additional 2% tax hit delivered in last week’s Autumn Budget – there are currently 15% more rental homes available to…
Read More →
Breaking News

FCA sets out plans to help build mortgage market of the future

First-time buyers and the self-employed could get a step-up onto the housing ladder, under new plans from the FCA. Its priorities for reforms to the mortgage market also include helping homeowners unlock housing wealth for a more comfortable later life. The FCA will focus on 4 areas: First-time buyers & underserved consumers: Simplifying mortgage rules…
Read More →
Breaking News

UK housing market modest growth expected in 2026

UK housing market steady in 2025, modest growth expected in 2026 • UK housing market performed broadly in line with expectations over the last year • Limited annual growth of +0.7% lifted the average property price to a new high of £299,892 • Market activity was influenced by stamp duty changes but overall remained close…
Read More →
Breaking News

Cladding remediation work stalls – when will we realise that this is a matter of life and death?

The most recent government data shows that the UK is monitoring more high-rise buildings with potential cladding risks than ever before, yet fewer are actually entering remediation. Property Inspect UK is now warning that the widening gap between identification and action reflects a persistent structural issue in how remediation is managed, verified, and delivered. As…
Read More →
Estate Agent Talk

3 Top-Rated Garages in Northampton

Car maintenance can be stressful if you are unsure which garage to trust to deliver precise and timely service. Choosing a garage that handles repairs carefully ensures your vehicle remains safe and performs reliably on the road. In Northampton, several garages stand out for their consistent service quality and attentive customer care. They provide support…
Read More →
Breaking News

Slight easing in affordability pressures helps underpin buyer demand

Housing market activity remained resilient in 2025 House price growth expected to be in the 2% to 4% range in 2026 Looking back at the housing market in 2025 and what we can expect in 2026, Robert Gardner, Nationwide’s Chief Economist, comments: “The word that best describes the housing market in 2025 is ‘resilient’. Even…
Read More →