Autumn 2021 Budget: housing market headlines
A quick look at what this weeks Budget means for property, housing and planning
- The Chancellor described the economic picture as “strong” in the short term, with the Office for Budget Responsibility expecting the economy to return to pre-pandemic levels 6 months earlier than expected (by 2022).
- Key housing market announcements included funding for new homes, brownfield land and the removal of dangerous cladding, funded by a 4% developer tax (firms with profits over £25m).
- To turn Generation Rent into Generation Buy, the government is building on existing commitments by confirming a nearly £24 billion multi-year settlement for housing.
- The Chancellor has also promised £65 million to improve England’s planning system, including digitisation to allow easy access to local plans.
- Source: Dataloft, gov.uk