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

 

 

 

 

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