Philip Hammond’s Autumn Statement: What to expect?

Budget 2018: Stamp duty boost for first-time buyers announced

Stamp duty for first-time buyers of shared ownership properties worth up to £500,000 will be abolished, it has been announced in the 2018 Budget.

The move follows the end of stamp duty for first-time buyers on properties with a £300,000 ceiling in the 2017 Budget, when it was also axed on the first £300,000 of a purchase price up to £500,000 to help first-time buyers in London. It was a move that helped see the highest levels of mortgaged first-time buyers in a decade at the start of this year.

“We will make this relief retrospective so any first time buyer who has made such a purchase since the last Budget will benefit,” announced Chancellor of the Exchequer Philip Hammond.

He also pledged a further £500m for the Housing Infrastructure Fund to help with the construction of 650,000 new homes, taking the fund to £5.5bn.

Rejuvenating the high street was also on Mr. Hammond’s agenda, with £675m allocated to what he called a ‘Future High Streets Fund’.

“We are consulting on simplification of the process for conversion of commercial property into new homes,” Mr Hammond added.

It was also announced that, from April 2020, lettings relief would be limited to properties where the owner is in shared occupancy with the tenant.

Measures to improve transport and infrastructure were also a feature of the Budget, the first to be delivered on a Monday since 1962. An extra £37m has been allocated to improve the trans Pennine rail route connecting Liverpool, Manchester, Leeds and the north-east, while £420m has been pledged to tackle potholes and other small-scale road repairs.


Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:


Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment


Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:


+44 (0) 333 123 0320

Open from 9am-6pm GMT


+852 6699 9008

Open from 9am-6pm HKT