Sales Lettings

Comment on the Autumn Statement - Philip Jordan

23 November 2016

Comment on the Autumn Statement - Philip Jordan

In the Autumn Statement it appears the Chancellor continues to shine his spotlight on the private rental sector which has already seen considerable squeezes in recent months. 

His attention has now turned to lettings agents. Having let properties for more than 25 years in both strong markets and recessions, we have consistently kept our fees to tenants clear and reasonable although I accept that not all lettings agencies have done the same despite ARLA’s best efforts. 

Costs such as inventories, references and credit checks will still have to be met and the issue is far from straightforward. Fortunately there is a period of consultation prior to changes taking effect. 

Disappointingly there was no mention from Philip Hammond about Stamp Duty taxation which could have had far reaching effects on freeing up the property market particularly at the higher price levels.

Good news is the Chancellor’s boost to the provision of new affordable homes in England. We operate in a relatively affluent area of the South East where affordability can be a challenge especially for young people. 

Keeping communities vibrant and generations together has to be positive, provided the right homes are built in the right places. While the detail remains to be seen, this could be good news for communities across the country.

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