Homes at the heart of Budget
Housebuilding and the property market look set to be at the centre of the Chancellor’s Budget on November 22.
The Prime Minister Theresa May, Chancellor Philip Hammond and Communities Secretary Sajid Javid have agreed money, planning reforms and incentives for housebuilding to encourage the construction industry to step up building, according to a recent report in the Times.
Other proposed measures, according to the Times, will be aimed at boosting the brickmaking industry and greater training for electricians and bricklayers.
There may also be more detail about recent Government announcements to boost funding for affordable housing by £9bn by 2021 and of an extra £10bn for the Help to Buy scheme.
The Government has a track record of announcing measures affecting the housing market and private rented sector in its Budgets and Autumn Statements – not least the shake-up of Stamp Duty in December 2014.
Any new measures have to support all sectors of the property market – including portfolio landlords and investors – to ensure stability going forward rather than as a knee-jerk reaction to short-term political concerns.
We’ll watch the Budget with interest and make sure we keep track of any changes which may affect tenants and landlords as well as those buying and selling houses. (Picture: Pixabay)