Autumn Budget Property Predictions 2024

As the Autumn Budget approaches, many in the property sector are wondering what’s in store.

The Budget will be announced on Wednesday 30th October, meaning there is less than a month before we find out.

At the Labour Party Conference in Liverpool at the end of last month, Chancellor Rachel Reeves reiterated that there will be no income tax, national insurance, or VAT increases. However, she has also stated that gaps in public finances will need to be filled, leading experts to put forward some predictions as to where Labour will turn to raise funds for the public coffers.

Prime Minister Keir Starmer has already stated that the Budget will be “painful”, leading to much speculation about which areas will be targeted. Some of the rumoured measures will directly affect landlords and the property industry, so let’s take a look at some of these possible Autumn Budget changes.

Some of this speculation has given property investors pause for thought, and it is important to stay ahead of rumoured changes to make an effective property investment strategy. However, we currently have no confirmation on these changes, and investors will likely have to wait until the announcement itself to incorporate these measures effectively into their strategies. Much of the speculation indicates that maintaining a healthy housing market is in the government’s best interest. After their pledge to meet new housing targets, it would seem counterproductive to discourage property investors who play a vital role in boosting stock levels through financing new-build projects.

The rumoured measures will not affect some of the most enticing benefits on offer for entrepreneurial buy-to-let investors. The supply-demand imbalance, currently one of the defining characteristics of the UK rental market, looks set to continue. This has caused rental income to soar, bumped up average rental yields, and contributed to record-breaking rental demand. This is especially true in northern markets, where property prices are more affordable on average, helping investors to maximise profits and be more likely to absorb potential tax rises that may come following the Autumn Budget. Find out more about available investment opportunities in northern buy-to-let hotspots by taking a look at RWinvest’s investment properties page.