In this blog I comment on the measures outlined in the Chancellor’s Autumn Statement on 23 November 2016. In this blog I comment on the measures outlined in the Chancellor’s Autumn Statement on 23 November 2016.

In this blog I comment on the measures outlined in the Chancellor’s Autumn Statement on 23 November 2016.

Autumn Statement: how changes could affect the local property market| Published in Market Insights on 23 November 2016 by our Marketing Team

The Chancellor of the Exchequer, Philip Hammond, has today announced a number of changes in his inaugural Autumn Statement to help improve the affordability of housing and rental homes, but how will these changes impact the property market in Lincolnshire?

The Home Building Fund aims to make houses more affordable for those people who “just about manage” but how much Lincolnshire will see of the allocated £3 billion is yet to be clarified; Lincolnshire can’t rely on funding boosts or hand-outs to resolve the problems arising with low housing stock, but has to be proactive in achieving its ambition to achieve 100,000 new homes by 2030.

Devolution still remains at the heart of local growth and I’m pleased to learn that £542 million will be shared with Local Enterprise Partnerships in the Midlands and East of England.

Both the private and public sector across Lincolnshire has a role to play in helping to boost inward investment into the area; our county is full of great opportunities for investment, which all helps to encourage property developers to the area who don’t need to rely on government grants to create new homes.

Of course, we shouldn’t look a gift horse in the mouth and any support from the Chancellor is welcomed with open arms, but it’s important to remember that existing public and private sector partnerships within Lincolnshire are already helping to drive inward investment into the region.

lnr160134_01Anything which helps small builders and construction SMEs continue building is welcomed by Pygott & Crone. Cherry Paddocks, built by Pride Homes, has been one of our most successful village schemes which supported a local firm and its supply chain, further boosting Lincolnshire’s economy. An example of a 2 bedroom semi-detached house available at Cherry Paddocks is pictured right.

In terms of the government’s plans for a £2 billion loan to build 15,000 homes on public sector land, this is already being realised in Lincolnshire. Gainsborough has a number of public-sector owned sites which have already been earmarked for the development of new homes. The local council is working with a number of private-sector businesses to help drive inward investment into the town where differentiated housing will be building for first time and second time buyers.

I look forward to reading the Housing Whitepaper which will be published in due course.

For more company news and insights from Pygott & Crone, click here

Members of the Relocation Agent Network

Part of a network of agents

We work with other trusted estate agents across the nation

Latest news

Help us make a difference to those in need this Christmas
Campaigns | 21 November 2022

Help us make a difference to those in need this Christmas

Donations for our local food banks are being gratefully received at your local Pygott & Crone branch

Is home staging worth it?
Magazine | 1 November 2022

Is home staging worth it?

Home staging is a specialised skill which involves creating the perfect atmosphere in your home using furniture and accessories, plants and lighting, to garner buyer interest for your property and sell it faster, for the best price.

Winterproof your home with these tips
Magazine | 1 November 2022

Winterproof your home with these tips

As autumn leaves us and dark evenings approach, now is the best time to start preparing your home for the cold months ahead.

One in three properties receive an offer one hour after viewing
Magazine | 1 November 2022

One in three properties receive an offer one hour after viewing

The housing market once again exceeds expectations after a poor reception from the chancellor’s mini-budget and regular talk of a possible slowdown, as current research suggests that in 2022, almost a third (31%) of properties are now receiving offers within an hour, compared to a mere 7% in 2018.

Chat live

Chat live with a member of staff

Please provide your name and email address to continue.

Cookies

We use some essential cookies to make our website work; and we use some other cookies to help us improve our website without identifying you. You can accept all cookies or change your settings below.

For an explanation of cookies and how we use them, see our cookie policy here (opens in new tab). Below you can choose to enable non-essential cookies.

These are anonymous and help us understand how our website is used.