Autumn Budget 2017 and the property industry

Last week, the Chancellor presented the Autumn Budget 2017 to Parliament – but what does this mean for the property industry?

From 22 November 2017, stamp duty land tax (abbreviated to SDLT) has been abolished for first-time buyers purchasing homes up to a value of £300,000. In addition to this, those first-time buyers purchasing properties up to £500,000 will not pay SDLT on the first £300,000, but will pay the usual rate on anything above this figure. This is great news for those looking to take their first step on the property ladder.

The government has also indicated that there will be an increase in financial support for building new homes over the next five years – with a target of 300,000 new properties built a year.

Are you looking to buy or sell a property? Contact our conveyancing team on 0113 264 4414 or for a quote or for a free initial consultation.

Alistair McKinlay

Written by

Alistair McKinlay

Director & Head of Conveyancing

Alistair is a Director and Head of Conveyancing with over 20 years’ experience, having qualified as a solicitor in 1997. He leads a committed conveyancing team and supervises the work to maintain our standard of excellence. Alistair deals with a wide range of property matters, including residential sales...

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