Thoughts on yesterday’s budget

It is said to be transforming Britain into a better, more prosperous country - of self-reliant families, rescued from welfare dependency at last being empowered to enjoy the dignity and the rewards of adequately paid work. What do you think?

Well, on the property side of things I can see that, fundamentally, we still have too much money chasing too few homes.

Instead of helping the housing market to perform better, both the new inheritance tax scheme and its associated housing measures will tend to curb the building of new homes whilst simultaneously increasing the amount of money chasing them all.

The likely result of this will be higher house prices, combined with less supply.

Alright for some. However, pretty disastrous for others one might be forgiven for thinking.

Any comments?

Posted by: Peter Hendry, Consultant in Housing Valuation at Property Match (UK).

3 + = five