Autumn Statement and Spending Review today.

November 25, 2015

George Osborne will later today in the combined Autumn Statement and Spending Review  set out government spending plans for the next five years, this will include the government’s taxation and deficit reduction plans but should also include new money for house building.

The chancellor is expected to  pledge almost £7bn to make house building a priority, with more than 400,000 “affordable homes” to be built in England, cuts however are expected to welfare spending.

The Treasury said the chancellor would unveil “the biggest affordable house building programme since the 1970s”, to include:

£2.3bn paid directly to developers to build so-called “starter homes”, aimed at first-time buyers, who will get a 20% discount on prices up to £450,000 in London and £250,000 elsewhere

£4bn to help build 135,000 “Help to Buy: Shared Ownership” homes for households earning less than £80,000 (or £90,000 in London)

£200m for 10,000 new homes that tenants can live in for five years at reduced rents while they save for a deposit. They will then have “first right” to buy the home

£400m to help build 8,000 specialist homes for older people or those with disabilities

Live coverage of the Autumn Statement and Spending Review will begin on Radio and TV from 11.55am today.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Home and Living

Top 5 Irrigation System Providers in the UK

A thriving allotment or kitchen garden is the pride of all plant lovers and allotment growers. However, maintaining an allotment or garden is not for the faint of heart. You need to put in a lot of effort, from mulching and composting to regular watering and weeding. Apart from watering, everything else needs to be…
Read More →
Breaking News

Mortgage affordability on course for 2021 levels

Mortgage affordability could be on course to return to its most manageable level in almost five years, according to exclusive new analysis from INTEREST by Moneyfacts, as easing rates and rising incomes restore some breathing space for borrowers. The research shows that average mortgage payments, which peaked at close to half of gross monthly income…
Read More →
Breaking News

City house prices soar

The latest research from Property DriveBuy reveals that house prices in UK cities are significantly outperforming both coastal and countryside locations, rising by an average of 3.4% over the past year, well ahead of the wider UK market which has seen growth of 2.5%. And while countryside homes have also seen a price increase, the…
Read More →
Breaking News

Buyers return to housing market

2026 starts in line with 2024 with buyer demand 9% down on last year’s strong start Buyers are returning to the housing market at the start of 2026 as confidence improves and mortgage rates fall, but a growing number of homes for sale is giving buyers more choice and reshaping market conditions, according to Zoopla’s…
Read More →
Breaking News

How will tenants be affected by the incoming Renters’ Rights Act?

On 28th October 2025, the Renters’ Rights Bill was passed into law, and it is now the Renters’ Rights Act. Changes to legislation resulting from this new Act will take effect from May 2026. This will affect landlords and how they let out their property, and it is worthwhile being aware of how it affects…
Read More →
Seaside Properties UK
Overseas Property

Gibraltar property values rise faster than UK

Gibraltar house prices rise faster than UK and London, despite market activity dropping 46% The latest market analysis by Enness Global has revealed that Gibraltar’s property market has seen stronger annual house price growth than both the UK and London, even as the number of transactions completing across the market has fallen sharply, creating a…
Read More →