As expected, plans to help the housing market and first-time buyers in particular, were included in Chancellor Philip Hammond’s Budget. What were these policies, and how could they affect the property market? We discuss the inaugural autumn budget in this blog.
If I were a buy to let landlord in Birmingham today, I might feel a little bruised by the assault made on my wallet after being (and will continue to be) ransacked over the last 12 months by HM Treasury’s tax changes to buy to let. To add insult to insult to injury, Brexit has caused a tempering of the Birmingham property market with property prices not increasing by the levels we have seen in the last few years.
I think we might even see a very slight drop in property prices this year, and if Birmingham property prices do drop, the downside to that is first time buyers could be attracted back into the Birmingham property market, meaning less demand for renting (meaning rents will go down). Yet, before we all run for the hills, all these things could be serendipitous to every Birmingham landlord, almost a blessing in disguise.
Most expectations are that this will be a reserved budget from Chancellor Phillip Hammond, in what could be the last important Spring Budget for a while. This is because Hammond has decided to move all major announcements to the Autumn Budget schedule, but there will still be a number of big announcements in this budget. Here is what to expect from the Spring Budget of 2017.
Having entered 2016 with optimism and all signs pointing at a buoyant market – the outlook was good! Little did the nation know what 2016 had in store for them.
From Brexit to tax relief for landlords, we’ll run you through what happened in 2016 and what is likely in store for 2017.
In his first Autumn Statement, Chancellor Philip Hammond aims to increase productivity and create greater stability for businesses.
Here is a round-up of the announcements made that concern the property sector:
Raj Deb, CEO and founder of Seed Property Consultants explores current industry trends and shares his thoughts on the main considerations for property investors and what the housing sector will look like in ten years time.
There’s still a lot of uncertainty surrounding the EU Referendum result. Guy Vaughan, senior valuer at Love Your Postcode explores the aftermath of Brexit on the property market.
Following Brexit, the Bank of England decided to keep the interest rate a 0.5 per cent, indicating the economy and the UK property market is stronger than expected.
Mortgage rates are continuing to creep downwards, as the City bets on a cut in interest rates next week.