Homes at the heart of the Budget

14 Nov 2017

All eyes will be on the Chancellor as he delivers the first “Autumn Budget” of its kind and, as always, predictions from businesses and individuals have started to surface as to how they may be affected. Housing is a common theme and is an ongoing concern for the Government in a number of areas ranging from affordability to availability – so how could the upcoming Budget help the housing sector?

The Government is being urged to consider putting homes and housing at the heart of the Budget and there are a number of measures that have been put forward, ranging from the abolishment of stamp duty to building more homes.

A shortage of affordable housing in the UK is high on Government agenda and the Conservatives are under pressure to deliver a system that addresses a number of problems. Housing is in short supply, they are not being built fast enough and there is a shortage of allocated land – that is before we even begin to consider affordability issues.

But, it is not just the shortage of affordable housing that impacts residents – it impacts businesses too. Employers could start to feel pressure to increase wages so that they can still attract employees within a commutable distance. It could also create challenges in recruiting and retaining staff.

Stamp Duty Land Tax (SDLT) is also an area under the spotlight. This is levied on all property transactions in the UK above £125,000 and rises according to the property value. Critics say that this is causing affordability issues, particularly in areas of the country, such as London, where property prices are already extremely high.

Some have said that scrapping SDLT could also help improve mobility of labour across the UK and will help to prevent pent up demand in areas that eventually lead to significant property price rises.

The issue of housing is an ongoing issue and it remains to be seen what the Chancellor’s plans are for the sector. Latest news suggests that Hammond and May have agreed a deal to make housebuilding the centrepiece of the Budget, and we will be watching closely on the day to see how events unfold.

If you would have a property portfolio, or you are thinking of investing in real estate and you would like some legal advice, contact DMH Stallard for more information.

Further reading

IP in pole position in 2021

Victoria Watt takes a look at a hat trick of car-related cases that concluded last autumn that place IP firmly in the headlights
Read more Read

Happy New Year for leasehold property owners

Blog, Legal Updates
Lawrence Morley looks at government reforms that will make it easier and cheaper for leaseholders to buy  their homes
Read more Read

Mission accomplished! DMH Stallard completes charity trek to and from the North Pole in aid of St Catherine’s Hospice

Blog, News & PR
DMH Stallard completes Christmas charity trek from the North Pole to St Catherine's and back, raising money for a fantastic cause.
Read more Read

(Supply) chain reaction

Blog, News & PR
It’s no time to shy away from chasing debt when it’s your cashflow under pressure. Kelly Mills provides the focus.
Read more Read
  • Brighton Office

    1 Jubilee Street


    East Sussex

    BN1 1GE

  • Gatwick Office

    Griffin House

    135 High Street


    West Sussex

    RH10 1DQ

  • Guildford Office

    Wonersh House

    The Guildway

    Old Portsmouth Road



    GU3 1LR

  • Horsham Office

    Ridgeland House

    15 Carfax


    West Sussex

    RH12 1DY

  • London Office

    6 New Street Square

    New Fetter Lane


    EC4A 3BF

  • Get in touch