Osborne’s property industry Autumn Statement announcements

Osborne’s property industry Autumn Statement announcements


Todays other news


– From April 2016 buy to let landlords and people buying second or holiday homes will have to pay an additional 3.0 per cent stamp duty surcharge, predicted to raise £1 billion by 2021;

– £2.3 billion to be paid directly to developers to build starter homes for sale to first time buyers who will receive 20 per cent discounts. These homes will be capped at £450,000 in London and £250,000 elsewhere;

– Another £4 billion will help build 135,000 so-called ‘Help to Buy: Shared Ownership’ homes for households earning less than £80,000 across the UK or £90,000 within Greater London;

– Some £200m to help create 10,000 new homes to let that tenants can live in for five years at sub-market rents while they save for a deposit. They will then be given the ‘first right’ to buy the home;

– Restrictions on shared ownership to be removed and planning system reformed to deliver more homes;

– The introduction of a London-specific Help to Buy scheme to offer interest-free loan worth up to 40 per cent of the value of a newly built home;

– An additional £400m to help build 8,000 specialist homes for older people or those with disabilities;

– Five housing associations from today in a pilot programme allowing tenants the right to buy their properties with discounts;

– From 2019 those private market sellers of second homes and investment properties are likely to be expected to pay their capital gains tax within 30 days of completion of their sale.

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Letting Agent Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
Will economic volatility and rental reform upturn London's lettings market?...
The data comes from flat sharing service SpareRoom...
Expect a busy first quarter - but then a distinct...
A leading agent says there are renegotiations on prices of...
Reeves to slash Right To Buy discount on Wednesday...
Recommended for you
Latest Features
Five major bodies within the residential property world have spoken...
The skills have been identified by the Property Academy...
More landlords are using auctions to sell off their properties...
Sponsored Content

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here