In this episode I run through the points of the Autumn Budget that are relevant to the Property Industry including parts that were not in Jeremy Hunts speech.
Largest ever increases to minimum wage.
LHA increased to 30th percentile of local rents.
Freeze on how Business rates are calculated and the discount in leisure, retail and hospitality is extended.
£3mil invested into pilot schemes to improve the process of buying and selling homes.
A consultation to start early next year on a new PD right to split a house to 2 flats.
Annual Tax on Enveloped Dwellings (ATED) to increase by 6.7%.
Guaranteed accelerated planning decisions on big developments in exchange for a fee.
Local development orders to speed up planning decisions for key commercial developments.
£110 million to deliver schemes to offset the stall on nutrient neutrality.
Affordable Homes Guarentee scheme to expand by a further £3billion so HA's can access cheaper loans for developing new homes.
£450 million to local authority housing fund to deliver 2,400 new homes for refugees and help homelessness.
£120 million for homeless prevention.
Mortgage Guarentee scheme extended for 18 months which allows buyers to borrow 95% LTV.
To read the Autumn Budget notes in full you can download this document file:///Users/rodturner/Downloads/DOC-20231122-WA0019..pdf
As always thanks to our sponsors 978 Finance. If you are looking at finance please contact simon@978finance.com
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