With a focus on increasing housing supply, the long awaited UK Housing White paper entitled ‘Fixing our broken housing market’ has been launched. It laid out several new initiatives designed to increase house building, including the following recommendations
In the 1990s, low rise buildings, located in the heart of the commercial hubs, with spacious apartments were the epitome of city-living.
The Housing White Paper was released earlier this month, but did not deliver any big surprises. It did; however, signal an admission that the housing market, as it stands, is not working.
Land Value Tax (LVT) has been in the news recently, with the Mayor of London saying he would be open to considering Land Value Tax options. The proponents of LVT have been campaigning for many years in favour of using the tax as a means to kick-start residential development.
In April 2017, the first of former Chancellor George Osborne’s phased cuts to tax relief on mortgage interest payments for buy-to-let landlord comes into force. In some cases, the amount of tax owed by buy-to-let landlords will double or even triple.
The long awaited Chancellor’s Autumn Statement did not deliver all of the changes hoped for in the residential sector. Many groups lobbied the government to reverse the SDLT charge on additional homes levied on large-scale investors.
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