2016 in Property – A Budget Wishlist

 

Have a look at the UK property industry’s wishlist for Chancellor George Osborne’s budget announcements.

1. Reversal of recent Government stamp duty changes

The recent reforms made to UK stamp duty are having a damaging impact on the overall housing market and should be reviewed.

The changes to Stamp Duty Land Tax announced in the 2014 and 2015 Autumn Statements have already noticeably chipped the confidence of both domestic and foreign buyers.

Due to those developments, buyers might now be wondering: what next?

In addition, even The Treasury itself has lost more than £0.5bn in revenue during the period.

2. More pragmatic support for SME developers

Over the past 2 years, there has been a series of policy announcements to help smaller developers. However, the question is how effective those changes will be in practise?

As an example, measure aimed at giving SME housebuilders the opportunity to take on projects they were previously unable to by offering sites with planning permission from public land are a clear move in the right direction. But so far only 13,000 homes have been directly commissioned by the Government across only 5 sites, a fairly insignificant amount considering targets of building one million more homes by 2020.

To successfully address the housing crisis in the UK, the Government needs to be more direct in its approach to supporting small and medium sized developers – by funding the solutions to the viability gaps on these sites, investing in the appropriate infrastructure and boosting the home and communities agency’s treasuries so they are able to provide funding alongside private financiers.

3. New approach to finding brownfield sites

In early 2015, the Coalition Government announced plans to acquire planning permission on 90% of brownfield land. One year later 28 housing zones have been identified which could create 45,000 homes.

Many of these site will be brought to life in public private partnerships and request specialist financial structures which are only possible through a thorough understanding of development and security, to help financiers to get comfortable with the revenue and risk of the projects. Nevertheless, some of the most innovative financiers in the current market (like alternative non-bank lenders) haven’t been invited to the table.

Working with a bigger number and a variety of financiers could be the key to opening up development of brownfield sites and the government acknowledge this.

Source: City A.M.

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

2016 in Property – A Budget Wishlist

2016 in Property – A Budget Wishlist

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.