Spring Statement: Hammond reveals where taxpayers’ billions are being spent on extra homes

first_imgHome » News » Housing Market » Spring Statement: Hammond reveals where taxpayers’ billions are being spent on extra homes previous nextHousing MarketSpring Statement: Hammond reveals where taxpayers’ billions are being spent on extra homesChancellor updates Parliament on government’s plans to build 300,000 homes every year by the mid 2020s.Nigel Lewis13th March 201801,428 Views Philip Hammond updated MPs during his Spring Statement today about the government’s progress towards building more homes in the UK and revealed where and how part of the £44 billion committed to the effort is now being spent.This includes £4.1 billion being distributed to 44 “forward thinking” local authorities via the government’s Housing Infrastructure Fund to help build more homes, and that £220 million is to be spent on supporting small house builders.Also, London is to have £1.67 billion to spend on 27,000 additional affordable homes by 2020/21.First time buyersThe Chancellor also said that 60,000 first time buyers had been helped on to the property ladder so far by his Stamp Duty changes in last year’s Autumn Budget, which abolished the duty for homes bought by first timers under £300,000.Philip Hammond also referred to the work of Oliver Letwin MP, who is leading a government investigation into why it takes so long for homes to be built.House building delaysIn a letter deposited in the Commons Library, he reveals that his initial investigations blames the ‘build out’ stage rather than land banking, which many affordable homes campaigners believe is the real culprit.Instead, Letwin says limited availability of skilled labour, building supplies and capital plus poor logistics, uncooperative utility companies, the challenges of sorting out contaminated land and the slow provision of local transport infrastructure may be to blame.Letwin also suggests that many new homes are not released for sale even though they have been completed for fear of over-supplying the market and reducing prices, and giving competitor developers in the area a chance to compete on price and housing size or style.He also questions whether large sites, which enable developers to control local markets for new-builds, are as good for the housing market as small sites developed by small and medium-size builders.‘Missed a trick’ –  Cater Jonas“It is encouraging to hear in the Spring Statement that 60,000 first time buyers have benefited from the Stamp Duty relief announced in the autumn; however, this hasn’t as yet had a positive effect on transaction volumes, which is what the market needs,” says Rory O’Neill, Head of Residential, Carter Jonas (pictured, left).“More needs to be done to alleviate the exorbitant costs of buying a property in order to restore market balance. We continue to question where the support lies for second-steppers – many of whom are desperate to graduate out of their starter home and into a grown-up property.“They constitute the increasingly squeezed middle class, and we hope that a proportion of the much-needed new homes that Hammond continues to pledge will be adequately sized and ring-fenced for these forgotten home-owners looking to secure enough space in which to bring up a family.“The Chancellor has potentially missed a trick in failing to incentivise empty-nesters and prospective downsizers, many of whom retain their four and five-bedroom homes without filling them, at the expense of the second-steppers’ ability to upsize. While the supply of new homes needs to be increased, we also need to better allocate the homes already in existence.”‘Positive news’ – Kay & Co“So, we spring into the house buying season with no significant setbacks from the government,” says Martin Bikhit (pictured, right), Managing Director of Kay & Co.“This is positive news for both buyers, sellers and the industry as a whole.  Economic conditions are showing some improvement, and the sun usually brings the buyers out, so we are ready to greet the season with optimism.“Philip Hammond promised no red box, no official document, no spending increases, no tax changes. No other economy makes hundreds of tax changes twice a year, and neither should we, he said. For once, a politician is sticking to his word.”Oliver Letwin Philip Hammond housing new build affordable homes Spring Statement March 13, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more

Hertford not ready to Exet

first_imgSexy football was the order of the day at the third round of the Cuppers 5-a-side football last Thursday this round was definitely less One Man and his Dog and more Footballer’s Wives: physical, passionate, full of talent and with the odd smattering of sexy soccer. Queen’s B kicked off the day’s play against Exeter A in a corker of a match. Players fizzed around the pitch like annoyed wasps, buzzing after the ball (or, more often than not, after the legs of the opposition). An early Exeter free-kick was charged down by the omnipresent Sutcliffe who bit into the tackle and released Pearson to put Queen’s into the lead. Exeter were being outplayed by a Queen’s side full of verve, and although the physical Paul Coles was doing his best to keep them in the game, Queen’s B clinched another victory in what has been a fine tournament for them. Queen’s A were not as successful against historic rivals Teddy Hall B. Queen’s, orchestrated by the nimble-footed Kurosh Nikbin, dominated their ragged opponents who were indebted to goalkeeper Julian Baker for a series of fine saves. It was no surprise when Duncan Knox’s precise right-footed drive put Queen’s 1-0 up in the final minute, but then Queen’s keeper Graham Tunbridge, star of previous rounds, inadvertently directed a hopeful flick into his own net. Servants vanquished masters in the penalty shoot-out as Hall won 2-1. St Catz A beat Univ A in a match of minimal incident. Key players Chris Tapp (Univ) and Chris Vaulks (St Catz) pulled off several fine stops before Chris Bargate deservedly won the game for Catz with a well placed leftfooted shot. Good things come to those who wait, and those that stayed to see the final match were in for a treat as Hertford B produced football of such stunning simplicity and effectiveness to stun Exeter B. One-touch passing and movement were combined with spatial awareness and confidence in their teammates as first Scott Johnston and then Marc Rogers put Hertford in complete control of the game. Only Exeter keeper Olly Williams kept the score down. If they keep this form up Hertford might be an outside bet for the final. They continue to prove that you don’t have to be hard to be sexy.ARCHIVE: 4th week TT 2004last_img read more

Broome, Cortland, Tioga county sheriffs advise against unnecessary travel

first_imgHelm’s office says that they have received “numerous reports of icy roads and traffic accidents,” and warn to consider delaying travel if it is not an emergency. Sheriff Howard’s office says, “all unnecessary travel should be postponed pending improved weather and road conditions.” Due to low visibility, they advise drivers to use caution when traveling and plan accordingly. For current weather conditions, click here. Cortland County’s Sheriff Helms has also issued a travel advisory for Friday until midnight. (WBNG) — Due to changing weather conditions, Broome County Sheriff Harder is advising the community to avoid unnecessary travel. center_img The Tioga County Sheriff’s Office has also issued a travel advisory. If you are required to travel, the sheriff’s office suggests: Allow for extra time to reach your destinationLeave extra room between your vehicle and the one in front of youHave at least one-half tank of gas in your vehicleDress warm and bring a blanket in case of emergencyMake sure your cellphone is fully charged if you need to call for helpFamiliarize yourself with an alternate route to your destinationUse 4-way flashers if you are traveling slowlyIf you have an accident, remain in your vehicle until help arriveslast_img read more

Quality workmanship and a modern chic interior make a perfect hub

first_imgREAL ESTATE: 3 AlkooieMitchell Wright first bought his home at 3 Alkooie Ave, Clontarf in 2013.“My favourite place in the house has got to be the kitchen opening up to the rear balcony, getting a beautiful sea breeze through on a warm summer’s day, watching TV on the deck or entertaining friends and having complete privacy from the thick surrounding trees all around,’’ he said. 3 Alkooie Avenue, Clontarf. 3 Alkooie Avenue, Clontarf.Mr Wright said he loved the Clontarf area — it is a fantastic neighbourhood surrounded by beaches and there are dozens of parks, cafes and shops, and even an 18-hole golf course.And he loved that it was only 30 minutes drive to the Brisbane CBD and close to the Sunshine Coast.“But by far the best thing about living in Clontarf is having the fortune of driving over the Ted Smout Memorial Bridge each morning and afternoon overlooking the beautiful Clontarf and Woody Point beaches all the way over to Moreton Island,’’ he said. 3 Alkooie Avenue, Clontarf. More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 20193 Alkooie Avenue, Clontarf.Mr Wright has listed his home for sale through Frank De Raadt and Ben Smith of Kindred.Mr De Raadt said the floor plan catered to the entire family. The 3D Diakrit floor plan of 3 Alkooie Avenue, Clontarf.The home has a large double garage and a covered carport.“ The living and entertaining spaces seamlessly connect to create a versatile floor plan that caters to the entire family,’’ Mr De Raadt said. 3 Alkooie Avenue, Clontarf.The home has three larger-than- average bedrooms and the main bedroom has airconditioning.There is a separate study and teenagers’ retreat downstairs, and an additional bathroom also services this area.The lounge, dining and kitchen area are open-plan and open out on to an all weather deck.There is side access to the property and a large back yard which allows room for parking a boat or caravan.last_img read more