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

House price growth remained subdued in July

UK annual house price growth slowed to 1.8% in July, from 2.2% in June House prices were up 0.1% month on month Average time in a home is 14 years: 24 years for those owning outright and 5 years in private rented sector Three quarters of moves were within same tenure type in 2024/25 Headlines…
Read More →
Breaking News

Rent hikes and tighter tenant checks as landlord costs climb

Rising costs are prompting 63% of professional landlords to raise rents, prioritise lower-risk tenants and reassess portfolios Renters face a more expensive and more selective rental market as professional property investors respond to re-emergence of realistic gilt yields, rising operating costs and regulatory change by increasing rents and reassessing tenant risk and selection criteria, according…
Read More →
Rightmove logo
Breaking News

North-South divide for time to move as Londoners see longest wait

New analysis reveals a north-south divide in the time it takes to move home: In London it takes 174 days on average to go from agreeing a sale to completing a move, whereas it takes 141 days in the North East Scotland is the fastest part of Great Britain at 98 days, due to the…
Read More →
Letting Agent Talk

Dispelling the top five biggest letting agent myths

By Sophie Danes, Group Director of Property Management, Lomond   This year has seen the introduction of the seismic Renters’ Rights Act (RRA) as well as other changes affecting the private rented sector (PRS) coming into force, such as the rollout of Making Tax Digital (MTD). As a result, more than ever before, there is…
Read More →
bank of england interest rate
Breaking News

Bank of England Holds Interest Rates at 3.75%

Colleen Babcock, property expert at Rightmove says: “There’s stability for now as the Bank of England holds its Base Rate as widely expected. We’ve seen average mortgage rates increase over the last few weeks as geopolitical tensions have escalated, and the average two-year fixed rate is currently coming it at 5.11%. For broader context, this…
Read More →
New Builds 2020
Breaking News

Average new-build value to surpass £400,000

The latest research from UK Property Development has found that the average price of a new-build home in England is on course to exceed £400,000 by 2027, having risen steadily over the last decade alongside sustained growth across the wider British market. The research analysed average new-build house price data across Great Britain and its…
Read More →