The statistics published on the UK Government website show 35,710 houses were started during the third quarter of 2020, while 45,000 homes were completed during this time. The Government states the activity was made possible through measures supporting the housing market and construction industry during the Coronavirus pandemic.
Government support for homebuilding has included:
- Proposals to change the planning system in the UK
- £20 billion of investment in new housing, including over £12billion of investment in affordable housing and the £7.1 billion National Home Building Fund
- £400 million Brownfield Fund for seven Mayoral Combined Authorities, with the aim to build 26,000 homes
- Measures including flexible construction site working hours for builders and extending certain planning permissions
- A temporary cut to property tax
Propertymark’s Property Support Package
Over the course of the pandemic, we have campaigned for a Stamp Duty/LTT/LBTT holiday across the four nations of the UK and then promoted the benefits to consumers of extending the Stamp Duty holiday.
We continue to call for an extension to the property tax holiday to avoid unintended consequences such as transactions falling through, house prices falling, and a sudden loss of momentum in the markets.
In our representation to the Budget 2021, we have called for an extension to the SDLT cut for at least another six months and the allowance that those who have an offer formally accepted prior to the end of the current cut to stamp duty or any further extension, qualify for the relief.
Join the campaign to extend the cut to Stamp Duty by writing to your local MP outlining your experiences and asking them to make representation to the Chancellor ahead of the Budget on 3 March 2020. Our collective efforts and your role with your local representatives are vital in making the campaign effective.
Covid-19 support
Since the coronavirus pandemic erupted, we have been working with government departments and politicians to ensure that our members get the support they need, and the property sector can operate safely.Â