As you've no doubt seen by now, this year's budget has focused
heavily on property. The Chancellor's 'housing budget,' as it's
been called, offers various means to help buyers get on the
Many first-time buyers naturally opt for flats and apartments,
so these changes to property costs will encourage more purchasers
to seek out their perfect block property. Here's a summary of the
main property-related changes…
- Stamp duty has been abolished for people spending up to
£300,000 on their first home - brilliant news for young purchasers
stepping into the property ladder.
- For first-time buyers in London and other expensive areas, the
first £300,000 of a £500,000 purchase will also be exempt from
stamp duty, with the remaining £200,000 incurring 5%.
- Property building will benefit from £44 billion of funding,
loans and guarantees, to build 300,000 homes each year within
around eight years.
- £400 million will be spent on regenerating housing estates -
these will be wonderful new residential sites, exactly the kind of
development we love to manage.
An increase in property development heralds a new wave of
landlords, for whom the management of their leasehold properties
can prove time-consuming and distracting from their other business
activities. Whilst we'll be watching the new buildings grow
with interest, we'll also be keen to speak with the developers and
block or estate owners to explain how we can remove that stress
from landlords' lives.
Our advice services begin from before the first brick is laid,
so if you're a landlord with a growth programme in mind, please
call us for an early chat and we'll make sure to offer valuable
input that informs some of your development decisions. You can
speak with Roisin on 0845 456 8775 or email
Posted on Tuesday, November 28, 2017.