The pre-budget “noise” was much more dramatic than the budget itself, the long awaited budget has now been and gone and here is a little property related summary:

• No change to stamp duty despite speculation;
• Property income tax to rise. From April 2027, the basic, higher and additional rates of property income tax will each increase by 2% percentage points rising to 22%, 42% and 47% and 
• Mansion tax introduced From April 2028 – The UK Government will move ahead with a new High Value Council Tax Surcharge on properties valued over £2 million. Charges will range between £2,500 and £7,500 annually, depending on the value band.

Source: Propertymark

There was an array of other changes that will affect the economy, but perhaps not so dramatic as some of the pre-amble reported, thankfully! 

Here at Armitstead Barnett, we have been busy putting sales together, sending memorandums of sale and preparing for new properties to join the AB way of selling beautiful homes. We are also excited to prepare for our next Open Home Event on 10^th and 11^th January.  If you would like to be included, we would be pleased to chat to you about how we can get you to market before then to make the most of it.