On 28 October, the Chancellor of the Exchequer, John Healey, gave his Autumn Budget, and the Office for Budget Responsibility published its economic and fiscal outlook. This briefing summarises the main housing-related measures, alongside CIH’s analysis of the likely impacts.
Key housing and related announcements
- An additional £1.5 billion for the Social and Affordable Homes Programme
- Your First Home – a new scheme to support first-time buyers, with a new First Time Buyer ISA also introduced
- Zero rate VAT on land sold to registered housing providers
- Support for household energy costs, with a one-off payment for all homes in council tax bands A-D
- No new building regulations for the remainder of this Parliament – and small brownfield sites exempted from Biodiversity Net Gain contributions
- Changes to the Warm Homes Plan, with funding for the boiler upgrade scheme reduced
- Devolution for more areas in England, with a fiscal devolution roadmap setting out how mayors will raise and retain more money.
Social housing investment – England
From boosting the Social and Affordable Homes Programme and council house building, to reducing tax on land sold to registered social housing providers, read what the government announced in the Budget to increase the supply of new social and affordable homes.
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Homelessness, rough sleeping and temporary accommodation – England
From extending the Rough Sleepers Programme to the growing pressure of temporary accommodation costs on councils, read what the Budget means for tackling homelessness, and where CIH thinks more action is needed.
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Support for first time buyers – England
From the new Your First Home equity loan scheme to a First Time Buyer ISA replacing the Lifetime ISA, read what the Budget means for people trying to buy their first home.
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The OBR's forecast of UK housing output
From a downgraded forecast for new homes to the growing gap between delivery and the government’s 1.5 million homes target, read what the OBR’s latest projections tell us about housing supply.
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Net zero, energy and sustainability – UK
From a £100 household energy payment this winter and removing standing charges on gas bills, to low interest loans for clean energy installations, read what the Budget means for energy costs, energy efficiency and the wider energy market.
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Planning and building regulations - England
From a freeze on new building regulations to an exemption from Biodiversity Net Gain for smaller brownfield sites, read what the Budget means for the cost and standards of building new homes.
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Devolution and local government - England
From new Mayoral Strategic Authorities to a roadmap for mayors to raise and spend their own money, read what the Budget means for devolution and the role of mayors in delivering housing.
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Property taxation and the private rented sector
From the confirmed High Value Council Tax to higher tax rates on property income, read what’s changing for landlords and the private rented sector, including the removal of Stamp Duty Land Tax on rent under assured tenancies in England.
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Health and adult social care – England
From reforms to the pension triple lock to fund a national care service to the impact of the building regulations freeze on accessible homes, read what the Budget means for health and adult social care.
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Social security and individual financial assistance – UK
From the annual uprating of benefits to the continued freeze on local housing allowance, read what the Budget means for social security and the people who rely on it.
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Devolved nation funding
Read how much extra funding the Budget will provide to the devolved governments, and how it’s expected to be used.
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What’s next?
We will continue to monitor further developments, including forthcoming secondary legislation to enact measures included in the Budget. We will use member feedback to inform our engagement with government, so please do get in touch if you have any thoughts on the Budget: policyandpractice@cih.org.
