30 October 2018
Philip Jordan, Chief Executive at Henry Adams LLP, said:
First time buyers of shared equity properties were given a welcome helping hand by the Chancellor in this year’s Budget but there was little else likely to have much impact on the residential housing market.
Stamp duty tax relief will now extend to first time buyers of shared ownership homes up to £500,000. This will help more first time buyers to get a foot on the housing ladder and the relief is backdated to the last Budget which will be an unexpected bonus for some first time buyers who’ve already bought.
News about the resilience of the economy and rising employment was of course also welcome, as was the announcement about increased investment to rejuvenating high streets at the heart of communities.
While this year’s budget hasn’t really helped the housing market to any major degree, there was nothing to hold it back, so it’s business as usual as we continue our focus on helping people move home.