Budget watch: Housing market headlines
In this quick speed read, we take a look at yesterdays budget highlights for the housing market
- The economy is set to bounce back to pre-pandemic levels by the middle of 2022, with the furlough scheme extended until the end of September.
- The Stamp Duty Holiday, has been extended to the end of June with 0% taxation payable on main residences up to £250,000 until the end of September, offering buyers a saving up to £2,500.
- A new mortgage guarantee scheme will enable existing homeowners and first-time buyers to access 95% mortgages for property costing up to £600,000. 9 in every 10 sales is below this figure.
- Despite expectations, the Chancellor made no changes to Capital Gains Tax and there were no specific announcements affecting landlords and tenants.
- The establishment of Treasury North in Doncaster and the National Infrastructure Commission in Leeds is an indication of the policy shift to support regional centres. Source Dataloft, gov.uk
