Housing announcements in the Autumn Statement

November 24, 2016

The Chancellorÿ announced yesterdayÿ in the Autumn Satement a new œ2.3 billion Housing Infrastructure Fund to deliver up to 100,000 new homes in areas of high demand and a further œ1.4 billion to build 40,000 additional affordable homes, also another œ1.7 billion by 2020-21 will be used to speed up the construction of new homes on public sector land.

Shares in housebuilders were down yesterday, including Persimmon, Barratt Dev and Taylor Wimpey.

He also announced a large-scale regional pilot of Right to Buy for housing association tenants, as well as continued support for homeownership through the Help to Buy Equity Loan scheme and the Help to Buy Isa.

The Chancellor also confirmedÿ fees will no longer be charged to tenants from letting agents as plans have been revealed to ban them in the near term.

Foxtons and Belvoir Lettings share prices finished down yesterday.

This Autumn Statement was the first and the last for Philip Hammond, he announced to the House of Commons that he was abolishing the Autumn Statement, he said “No other major economy makes hundreds of tax changes twice a year and neither should we”.

Read the Autumn Statement in full on the Gov.UK website click here

 

 

 

 

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

Elizabeth line rental growth outpaces wider London market

Elizabeth line rental growth outpaces the wider London market, with commuter towns leading the charge where rents are up 41% The latest research from London lettings and estate agent, Benham and Reeves, has found that since the Elizabeth line fully opened in May 2023, rental growth along the route has outpaced the wider London average…
Read More →
Rightmove logo
Breaking News

Rightmove seeks agent views on stamp duty reform to take to government

The UK’s largest property platform Rightmove is calling for agent views on how reforms to the stamp duty system could work best in England. It follows rumours the government is considering changes to the way the tax works in England in the forthcoming Autumn Budget. One rumoured proposal would see the current system replaced by…
Read More →
Breaking News

This property type is setting a new standard

A new generation of park homes is redefining what affordable living means in Britain. Fresh analysis from Regency Living shows that modern park homes are not only a lower-cost alternative to traditional housing but are built to a higher energy standard that guarantees lasting savings on heating and power. According to Regency Living, one of…
Read More →
Breaking News

Ahead of the Autumn Budget: What landlords and brokers should watch for

With the Autumn Budget now just two weeks away, speculation is mounting about what the Chancellor will announce – particularly regarding the property sector. In case you are working on any preview pieces, please find below expert commentary from my client, Paresh Raja (CEO of Market Financial Solutions), on what the Budget could mean for…
Read More →
Breaking News

Thousands of HMOs still contain life-threatening hazards

The Renters’ Rights Act has finally become law. Among its many provisions, it gives local authorities greater power to crack down on Category 1 hazards in rented homes, including within the HMO sector. HMO landlords are now being urged to act swiftly after new research by Inventory Base revealed that more than 2,300 HMOs in England…
Read More →
Breaking News

FMB launches first construction training academy to tackle workforce shortages

The Federation of Master Builders (FMB) has started an innovative construction training academy aimed at addressing the critical skills shortage and getting more people into working in the industry. In partnership with the Construction Industry Training Board (CITB) and Shooters Hill Sixth Form College, the Wanstead-based academy offers a 12-month pilot scheme designed to equip…
Read More →