sell landlords buy rent mortgages services careers contact myaccount back to news 27 October 2021 share Autumn Budget 2021 – What was announced and what it means for the housing market The Autumn Budget took place on 27th October 2021 Following the Autumn Budget from Chancellor of the Exchequer Rishi Sunak, Sequence outlines the key housing announcements made earlier today and what they mean for the housing market... £24bn of investment into housing - the largest cash investment in a decade according to the Chancellor. £11.5bn of this investment to go towards affordable housing specifically, in a bid to make home ownership more affordable for everyone. 180,000 affordable homes to be built on brownfield sites, opening up otherwise unused land and derelict buildings for development. 4% ‘Residential Property Development Tax’ on developers with profits over £25m, which will apply to around 30 of the largest developers in the UK. £5bn funding from the new Residential Property Development Tax to allocate to the removal of unsafe cladding, a step towards tackling the cladding crisis. £640m a year to combat rough sleeping and homelessness £65m to reform the planning system Capital Gains Tax payment window extended from 30 - 60 days. Other major announcements included: Inflation at 3.4% in September and set to rise further to 4% average in 2022. National Living Wage to increase to £9.50 an hour. Universal Credit taper rate will be cut from 63% to 55%. 50% discount on business rates for the retail, hospitality and leisure sectors in England in 2022-23. Rise in fuel tax cancelled. Whitehall departments to receive a total of £150bn funding collectively across the course of this parliament. Schools to receive an extra £4.7bn by 2024-25. Domestic flights within the UK to be subject to a new lower ‘Air Passenger Duty’ from April 2023. Planned rise in duty on alcohol cancelled and simplified duties on alcohol introduced. For further information on the housing market in your area, please contact your local Sequence branch. share contact our press office Lucy Walsh Group PR Manager 01525 218 536 email lucy For Media Enquiries Only Sequence (UK) Limited Cumbria House 16-20 Hockliffe Street Leighton Buzzard Bedfordshire LU7 1GN email us part of our estate agents Sequence Allen & Harris Bagshaws Residential Barnard Marcus Barnfields Brown & Merry Fox & Sons Holroyds Jones & Chapman Knight Partnership Manners & Harrison Roger Platt Shipways Swetenhams William H Brown book a property valuation search for a property other links about us careers news we advertise on legal notices privacy sitemap required disclosures (inc. Modern Slavery Act Statement) © Copyright Sequence (UK) Limited 2021. All rights reserved Sequence is a trading name of Sequence (UK) Limited which is registered in England and Wales under company number 4268443, Registered Office is Cumbria House, 16-20 Hockliffe Street, Leighton Buzzard, Bedfordshire, LU7 1GN. VAT Registration Number is 500 2481 05. For activities relating to regulated mortgages and non-investment insurance contracts, Sequence (UK) Limited is an appointed representative of Connells Limited which is authorised and regulated by the Financial Conduct Authority. Connells Limited’s Financial Services Register number is 302221. We use cookies to make our site work and to continuously improve it. You can control these by clicking 'cookie preferences'. accept all cookies cookie preferences