‍Stamp Duty Surcharge Hike on Second Homes

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From tomorrow, the stamp duty surcharge on second homes and investment properties rises from 3% to 5%. This increase could affect investor interest, potentially lowering transaction volumes in the buy-to-let market which is already in short supply. Estate agents may see slower demand for certain traditionally investment property candidates. Conveyancers may be dealing with additional enquiries on these types of purchases or working into the late evening tonight to get exchanges executed under the current rules while surveyors may be asked additional queries about maintenance and repair costs of these properties as the initial outlay increases.

Speak with Survey Network to understand how we can support you in the surveying element of your transaction.

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£5 Billion Investment in Affordable Housing

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The government’s £5bn investment in affordable housing, with £3.1bn earmarked for the Affordable Homes Programme, signals an increase in residential projects, particularly new builds. Estate agents specialising in new build sales and affordable housing are likely to  benefit, while conveyancing solicitors may see a rise in transactions in this area.

Contact Survey Network today to meet your surveying demands.

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£1 Billion for Cladding Safety

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With £1bn allocated to remove dangerous cladding, property safety standards continue to improve. Surveyors specialising in building compliance can expect increased demand for cladding assessments. This also affects estate agents handling high-rise properties, as clients may feel reassured about buildings safety, potentially boosting market appeal.

Talk with Survey Network today to understand how we can help your support your customers through their property journey.‍

Business Rates Changes

The need to support smaller businesses is pressing, and while the announcement partially addresses that need, overall business rates remain excessively high - a situation that has persisted for many years. Although the introduction of a 40% tax relief for retail, hospitality, and leisure properties, capped at £110,000 per business, is a positive step, it represents a reduction from the prior 75% relief, which will likely disappoint all involved in the sector and impose further financial pressure on these businesses.

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Consultation for Business Rates Reform

A consultation is underway regarding the business rates system, inviting industry input to create a fairer framework. Property professionals should stay informed and participate in discussions to advocate for beneficial changes.

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Planning Reforms

Ambitious planning reforms are aimed  at simplifying and streamlining the planning process, which could facilitate new commercial and residential development. The government plans to respond to consultations on the National Planning Policy Framework and implement changes that may boost investment flows.

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Business Implications

‍For surveyors, commercial agents, estate agents and conveyancing solicitors, these changes highlight a shift toward supporting first-time buyers and improving building standards. Survey Network is here to help property professionals adapt to the evolving market. Get in touch to see how we can support your business strategy.

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