Over the past few decades, governments have sought to address the housing crisis by focusing on one primary solution – constructing new-build properties. While the construction of residential new-builds will naturally play a pivotal role in rectifying the current imbalance between housing supply and demand, commentators have criticised the targets set by the Government as being simply unattainable.
When Chancellor Sajid Javid goes to the dispatch box to deliver the 2020 Spring Budget on 11thMarch, those of us involved in the UK property market will be watching on with great interest. This is the first budget of new parliament, and the first budget of a new decade. And unlike recent fiscal statements, this looks set to deliver some substantial reforms.
Regardless of the outcome, the UK’s 2019 General Election promised to be a pivotal event. After nearly a year of Brexit delays, political infighting and general market uncertainty, Prime Minister Boris Johnson’s decision to call a general election in December was seen as an attempt to deliver a majority government.