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

First-time buyers face highest hurdle in England

The latest research from Yopa has found that while first-time buyers in England continue to face the highest cost of getting a foot on the property ladder, at £27,807, it’s their Scottish counterparts who have seen this cost rise by the largest margin over the last year, increasing by 5.5%. Yopa analysed* the current cost…
Read More →
Breaking News

Rental price and average salary tracker – January 2026

Seasonal cooling deepens regional rent declines, while affordability pressures remain structurally high Month-on-month rental prices fell across the majority of regions, with particularly pronounced drops in the North East (−10.0%), South West (−8.1%), Yorkshire and Humberside (−7.4%), and Wales (−6.1%), highlighting a clear seasonal slowdown as demand softens post-Christmas. Year-on-year salary requirements show only modest…
Read More →
how to present your property for sale
Breaking News

Property values hit £300k for first time

The latest Halifax House Price Index for January 2025. On a monthly basis, house prices increased by 0.7% between December and January, reversing the decline of -0.5% seen between November and December of last year.   Annually, house prices were up 1% versus this time last year, with this annual rate of growth accelerating when…
Read More →
Breaking News

Average UK house price rises at the start of 2026

• House prices increased by +0.7% in January, following a -0.5% fall in December • Average property price is now £300,077, rising above £300k for the first time • Annual growth at +1.0%, up from +0.4% in December • Regional differences in house price performance have become more pronounced   Amanda Bryden, Head of Mortgages,…
Read More →
Estate Agent Talk

London basements boost value by up to 20%

The latest market analysis by prime London property brokerage, Jefferies London, reveals that London homebuyers who want to secure a property with a basement face a tough task. Not only do these much sought-after spaces increase a property’s value by up to 20%, but they’re also incredibly rare, found in only 2% of the capital’s…
Read More →
Breaking News

Bailey applies the brakes but ‘two more 2026 cuts priced in’

Vote to hold rates ‘closer than expected’ as Bank of England eyes April for 2% inflation target Focus turns to US and Japan in impact they play on shape of global investment flows says Rathbones’ Head of Market Analysis Kirsten Pettigrew, Senior Financial Planner, warns of making financial decisions based on speculation around rate trajectories…
Read More →