Light relief for UK housing market in Autumn budget

Light relief for UK housing market in Autumn budget

Posted 24/11/17

With a range of exciting schemes coming through in our development pipeline, we were pleased by the Chancellor's focus on Governmental support for the UK’s housing sector. There were a number of announcements, most notably £44 billion in capital funding, loans and guarantees to help deliver 300,000 new homes  - finally getting the intent to deliver to the numbers of badly-needed new homes in Britain - and the abolition of stamp duty for first time buyers for property values up to £300,000. For these buyers, this will further improve the potential stamp duty land tax treatment under HAB's custom build model. So all in all, this has brought some relief to the UK’s house building market.

 

This follows a welcome recognition of HAB this month by Sajid Javid MP, Secretary of State for Communities and Local Government, who namechecked us in a speech in Bristol, in a reference to innovators in the market. His speech also focused on the need for collaboration between organisations such as housing associations, LEPs and SME house builders.

 

With our recent appointment to the Government’s DPP3 panel, which allows local authorities and other public sector bodies greater access to niche, SME house builders such as ourselves, we hope that the UK's housing leaders use this opportunity to speed up the process to enable new communities through original and different approaches to new build, such as our Elderberry Walk scheme. This new housing project combines the very real need for more urban social housing, whilst creating spaces and sustainable homes that are a joy for people to live in. 

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