Chancellor of the Exchequer Rachel Reeves’ budget on Nov 26 lifted taxes by £26 billion and announced a new levy on homes worth more than £2 million. These make up a small fraction of the UK’s total housing stock, yet confidence remains subdued across the market.
The Bank of England’s (BOE) decision to cut interest rates to 3.75%, the lowest since 2023, in December will provide some support to homebuyers. However, affordability is likely to remain stretched as the BOE said it is nearing the end of the easing cycle.
Uploaded by Felyx Teoh
