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Chancellor Proposes Budget on 6th November

Today the Chancellor of the Exchequer Sajid Javid has announced the date of the next Budget, which will be on Wednesday 6th November.

Proportion of Homes Let by Accidental Landlords Falls Says Hamptons International

The proportion of homes let by accidental landlords has fallen according to the Hamptons International Monthly Lettings Index.

The proportion of homes let by accidental landlords fell to 7.1% in 2019 which is the lowest level in five years.

Aneisha Beveridge, head of research at Hamptons International, said:

“Despite a weaker sales market, which tends to encourage accidental landlords, the proportion of homes to let having previously been listed for sale has fallen for the first time in five years.

“The tax changes being introduced in April 2020 will increase the capital gains tax bill for some accidental landlords who choose to sell after that date.

“Great Britain’s most expensive regions and where prices have risen the most, recorded the biggest fall in accidental landlords.

“This is unsurprising given that landlords in these areas will have seen the greatest gains, which are likely to exceed the annual capital gains tax allowance, and therefore could see their tax bills rise the most.”

Every region recorded a fall in the proportion of homes let by accidental landlords, with London seeing the biggest drop despite being the ‘accidental landlord capital’ of the country.In 2019 thus far 10.1% of homes listed to rent in London had been up for sale during the previous six months.

Meanwhile Scotland (-0.4%) and Wales (-0.3%) saw the smallest changes to the proportion of homes let by accidental landlords.The proportion of homes that came onto the rental market having been listed to sell within the previous six months in the Great Britain peaked at 8.6% in 2018.

Growing Homelessness and Inadequate Funding Costing London Boroughs Over £200 Million a Year

New research argues that a growing homelessness crisis and inadequate funding are costing London boroughs more than £200 million every year – with councils warning the worsening situation risks undermining the government’s national push on reducing homelessness.   

The research, carried out by LSE London on behalf of London Councils and the London Housing Directors’ Group, shows that the implementation of the Homelessness Reduction Act in April 2018 has substantially increased the number of people seeking help from boroughs and the resources required for services.

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