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

Overseas Property

The most in-demand holiday home destinations

Alicante is the ideal place in the sun when it comes to Brit foreign property dreams Province on Spain’s Eastern coast is the most popular destination for Brits in TV foreign property series Almeria and the Costa Del Sol are in the top three based on analysis of 1,000 episodes of A Place In The…
Read More →
Breaking News

Two Weeks to Go for First Phase of Renters’ Rights Act

With just two weeks until the first phase of the Renters’ Rights Act comes into effect, letting agents across England are being urged to ensure they are fully prepared for the significant operational and compliance changes ahead. From 1 May 2026, the new legislation will introduce wide-ranging reforms to tenancy structures, possession processes and rent…
Read More →
Breaking News

Housing Insight Report: February 2026

The housing market shows steady activity, ongoing challenges with sales agreed rising slightly and stock levels stable, while affordability pressures and longer transaction times continue to strain buyers and sellers. Demand is strong in the rental sector, with significant competition among tenants despite only a modest increase in available properties. Rents have remained relatively stable…
Read More →
Breaking News

London boasts biggest property market gap

UK’s property price gaps exposed: London tops with £838k difference between top and bottom of the market The latest research from eXp UK has revealed the scale of the price divide between the most and least expensive property markets across each region of the UK, with three areas seeing average house price gaps of more…
Read More →
Letting Agent Talk

Questions raised over tenant-agent trust gap

New research from Propoly has found that while over half of tenants describe their letting agent as professional, quick to respond to queries, and efficient in handling maintenance issues, issues still exist, particularly a widespread suspicion that agents are not working in the tenants’ favour. Propoly commissioned a survey of 1,000 UK tenants* to understand…
Read More →
Letting Agent Talk

29 is the age house sharing becomes ‘embarrassing’

but 11% still do it, according to new Nationwide research That equates to 27 million admitting they have felt embarrassed about their living situation With 69% saying living alone is unaffordable, it’s no surprise the average age of those in house shares is 35 From moving home (12%) to living with an ex (10%), as…
Read More →