Post-Budget updates

Post- Budget: where we stand now.


Faisal Islam, BBC Economics editor, summed up yesterday’s budget in his on-line report this morning. Whatever your views of yesterday’s budget announcement, and the response from leader of the Opposition, Kemi Badenoch, we now know the extent of what some had been dreading or fearing, or even hoping for.



Nick Henderson, Managing Director of Tavistock-based estate agents Mansbridge Balment, looks at how yesterday’s announcements may impact the property market here in west Devon, Dartmoor, the Tamar Valley, and into Plymouth.

“No further changes to Stamp Duty, which many were anticipating following the suggestion from the Conservative’s that they would do so were they in power. Despite relatively recent tweaking of Stamp Duty, Rachel Reeves has decided to leave this alone and so we know where we stand in that regard. The ‘Mansion Tax’ levied on properties with a value in excess of £2million (from April 2028) is unlikely to impact vast numbers of clients across the rural areas we cover, but it remains to be seen how that will work for farms, for example, and how that will be collected. More relevant, perhaps, to our clients will be the increase for landlords which, following the overhaul of the rental sector recently, is likely to see rents increase further as availability falls. Not quite the objective of making things easier for tenants. Generally-speaking, people in rural areas have to travel further to work, for shopping, get the children to school, visit relatives etc… The newly announced tax on EV’s and plug-in hybrid cars will increase financial pressure on those drivers regularly clocking-up significant distances, just as they had hoped their EV’s would represent savings from their petrol or diesel counterparts.

All in all, it’s better that we know where we stand and have this budget behind us and are able to move into next year with a little less uncertainty. To find out how the local property market (sales and lettings) is responding to these changes, contact the Mansbridge Balment teams covering the Okehampton, Dartmoor, Tavistock, Tamar Valley and Plymouth areas.”

Mansbridge Balment were established in Tavistock in 1971 and provide estate agency sales and lettings services across Dartmoor, west Devon, the Tamar Valley and into Plymouth. For advice whether buying or selling, renting or letting, contact Nick and the rest of the team today.