Ahead of tomorrow’s Autumn Statement, we asked property professionals to tell us what they would most like to see in the Chancellor’s red box.
Topping the poll is an appetite for government to address the impact of Stamp Duty changes brought into effect earlier this year. 40% of respondents agreed that by cutting Stamp Duty Land Tax for second homes and buy-to-lets should be prioritised to improve conditions in the market.
In our submission to the Autumn Statement, we’ve called on Philip Hammond to incentivise investment in property, particularly for SME developers, by revising down Stamp Duty to make property investment a more affordable endeavour. This is increasingly important if the Autumn Statement shows the economy has been negatively affected by a vote to leave the European Union, which could see a slowdown in the property market.
The poll results below show a number of other measures that the property industry would like to see from the Autumn Statement.