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.

You May Also Enjoy

Breaking News

Weekly News Roundup – 19/04/24

A roundup of the week’s top property and proptech news stories in partnership with Proptech-X Table of Contents Ascendix deep dives into the world of the AVM CEO Adam Pigott on tour in Norfolk with tlyfe App VTS Activate Multifamily launches   Ascendix deep dives into the world of the AVM This month Yana Yarotska from Ascendix…
Read More →
Breaking News

Breaking Property News – 18/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Scotland to get to Net Zero by 2045 in stunning U-turn Because of its serious implications here in full is the Scottish ‘apology or explanation’ why it thinks it is OK to let the planet burn for the next two decades. Net Zero and…
Read More →
Breaking News

Breaking Property News – 17/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   CEO Adam Pigott on tour in Norfolk with tlyfe App Full disclosure CEO Adam Pigott and his team are one of my earliest clients, so it is always a pleasure to hear what they have been getting up to. And this week they were…
Read More →
Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker

Headlines The average 5-year fixed mortgage rate is now 4.84%, up from 4.45% a year ago The average 2-year fixed mortgage rate is now 5.23%, up from 4.77% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.77%, up from 4.46% a year ago The average 60% LTV 5-year fixed mortgage…
Read More →
Rightmove logo
Breaking News

Rightmove comment on inflation reducing to 3.2%

UK inflation slowed less than expected last month, making traders and economists more cautious about the likely pace of interest rate cuts. Matt Smith, Rightmove’s mortgage expert said: ‘It’s positive to see inflation continuing to fall this morning, albeit not by quite as much as expected, as the blocks continue to build towards the anticipated…
Read More →
Estate Agent Talk

Multifaceted Rewards of Vineyard Estates: Investing in Vineyard Estates in Provence for a Fulfilling Lifestyle Business

Vineyard estates provide an exceptional opportunity to invest in a lifestyle business that aligns with a passion for crafting something unique, freedom for creativity, and business interests while harmonizing with the rhythms of nature. In Provence, you can invest in winemaking and foster authentic connections with the land and community while enjoying your returns. It’s…
Read More →