The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

Industry Opinion on The Budget and How it Will Impact The Property Market

Chancellor Philip Hammond delivered his Autumn Statement to the House of Commons on the 23rd of November. From extending the Help-to-Buy scheme to abolishing the Stamp Duty tax, here are the key points relevant to landlords, tenants and the property industry as a whole:

Stamp Duty changes for first-time buyers
First-time buyers in England, Northern Ireland and Wales spending up to £300,000 on a property will no longer pay the tax. Those paying up to £500,000 in areas such as London will only be charged on the part of their purchase over £300,000.

Hammond explained: “House prices are increasingly out of reach for many. It takes too long to save for a deposit and rents absorb too high a portion of monthly income. So the number of 25 to 34-year-olds owning their own home has dropped from 59% to just 38% over the last 13 years.”

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