‘Post-austerity’ budget helping first-time buyers and house-building

Chancellor Philip Hammond delivered his ‘post-austerity’ budget yesterday (29 October), which offers good news for housing associations, first-time buyers and house-builders.

The headline changes are:

• All first-time buyers purchasing shared equity homes of up to £500,000 to be exempt from stamp duty
• £500m for the Housing Infrastructure Fund, designed to enable a further 650,000 homes to be built
• Lettings relief limited to properties where the owner is in shared occupancy with the tenant
• New partnerships with housing associations in England to deliver 13,000 homes
• Guarantees of up to £1bn for smaller house-builders

Kindly shared by BBC News