Autumn Statement: Property Owners

 

Funding To Build Affordable New Homes

By 2020-21, the government will fund £1.4bn to build up to 40,000 affordable new homes. This will include the creation of rental and shared ownership properties.

The government want to also increase the speed of which homes on public sector land are being built, allocating £1.7bn towards it.

Additionally, funding of £2.3bn will support infrastructure projects in areas with the most needs.  This means new roads and water connections will be provided to 100,000 new homes.


Agent's Letting Fees To Be Banned

In England, if you are a renter, upfront fees are to be banned.

At present tenants are being charged an average of £233.


Tax Increase Enveloped Dwellings

The Annual Tax on Enveloped Dwelling will increase from April 2017, in accordance with inflation. This will effect companies that own UK residential properties.