40% of people think they’ll be worse off after the Budget

Michael Lloyd

November 22, 2017

Two in five (40%) people expect to be worse off after today’s Budget, a poll by Homelyfe has found.

The three most important aspects of the Budget to people are public services, 44.6%, personal tax, 26.4%, and housing and property policies at 19.80%.

Pete Goodman, founder and chief executive of Homelyfe, said: “This flash survey gives us a great insight into what really matters to the general public from the Budget – which people have said to be public services, personal tax, and housing. These are the issues that affect almost everyone’s day to day lives.

On housing, only 7.8% think the government does enough to make the property market easy and safe for buyers and sellers.

Around 21% of people want more homes, 18.8% want the buying process to be made easier and about 15% want further commitment to scrap letting fees.

Nearly 15% want more investment for Help to Buy and nearly 14% want stamp duty suspended for first-time buyers.

Goodman added: “On housing in particular, the message is clear – people want the government to do more. Interestingly, while potential changes to stamp duty are widely discussed, these results suggest that what people really want is more houses and measures to make the entire home buying process easier.

“A massive 63% of people think that the government doesn’t do enough to make the property market easy and safe for buyers and sellers.

“The competition for buying a house is high and people feel insecure in the market due to practices such as gazumping, losing out on a property at the last minute, while still incurring fees. The ultimate outcome is a lack of confidence which slows down the housing market and our economy.

“It’s evident that the government needs to do more to address these concerns, the issues that the everyday person is dealing with. Perhaps if it did, more than 8% of people would expect to be better off after the Budget.”

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