Craig Vile, director at ValPal, reacts to Autumn Statement:
November 25, 2016
_We needed some bold announcements on property from the Chancellor today but all we have seen are temporary sticking plasters to appease the market.
In reality the ban on letting agent fees will not benefit tenants, the costs have just been passed over to the Landlords, which will in the end be passed on to tenants through increased rents, or restrict the buy to let market.
It_s disappointing and short sighted that the chancellor hasn_t made any changes to stamp duty. Disproportionate stamp duty taxes at the upper end of the market over the last two years have done more damage than anything else in restricting transactions, including Brexit.
Releasing funds for the build of new homes is a positive move but this needs to be more, to meet demand _ again a conciliatory move.
Surely it_s no revelation that a buoyant property market is good for the economy.ÿÿWe need to see policies in place to enable and increase a free flow of transactions from the top end of the market to the bottom.ÿÿ
We would call for reduced stamp duty across the board particularly on second homes and more help for residential developers.
Currently at ValPal, our valuation data shows the market as fairly stable, but it needs a boost if we are not going to see a drop off in transactions over the next year, as the impact of Brexit kicks in._
You May Also Enjoy
2025: A landmark year for UK renters and homebuyers – what consumers need to know
From major rental reforms to new powers tackling unsafe or empty buildings, 2025 has become one of the most transformative years for housing across the UK. Whether renting, buying, or managing a property, millions of people will feel the effects of the changes rolling out nation by nation. Propertymark has broken down what these changes…
Read More 
Are ‘for sale’ boards becoming obsolete?
Earlier this year, Westminster Council announced that it would apply to ban estate agents from displaying sales boards outside residential properties in the local area; now, Epping Forest Council is the latest to follow suit. With this in mind, Jack Malnick, Property Expert and Managing Director at Sell House Fast has shared his thoughts on…
Read More 
A More Affordable Christmas for Homebuyers
The latest research from award-winning mortgage adviser, Alexander Hall, has revealed that – despite the government failing to leave any affordability-focused initiatives under the tree in the recent Autumn Budget – this Christmas is shaping up to be a far more positive one for the nation’s homebuyers, as borrowers entering the market today are benefitting…
Read More 
Most active property markets in 2025 revealed
Scotland and Yorkshire home to UK’s most active property markets in 2025 The latest research from The Property DriveBuy reveals that Scotland and Yorkshire have been home to the UK’s most active housing markets in 2025, with Birmingham, Somerset, Cornwall and Buckinghamshire also ranking within the top 10. The Property DriveBuy has analysed the latest…
Read More 
The Renters’ Rights Act: turning change into advantage
The private rental sector is entering a period of unprecedented change. For estate agents, the Renters’ Rights Act 2025 taking effect from May is not just another piece of legislation – it will reshape how you advise landlords, manage tenancies and maintain compliance. Mustafa Sidki of the real estate team at Thackray Williams explains how…
Read More
Lower mortgage rates help Santa deliver 600 more toys this Christmas
With Christmas fast approaching, falling mortgage rates could be doing more than easing household finances this festive season. In fact, if Santa himself were to secure a mortgage on the North Pole today, he would be saving more than £2,000 a year on his monthly mortgage repayments compared to taking out the same mortgage at…
Read More