Planning Your House Move: Key Changes from the 2024 Autumn Budget

As your trusted removals partner, we want to keep you informed about important changes that could affect your moving plans. The recent Autumn Budget has introduced several key changes that may impact when and how you choose to move home. Here's what you need to know to plan your move effectively.

Market Activity and Timing Your Move

According to Rightmove's analysis, the market is showing strong signs of activity:

• Sales agreed are up 29% compared to last year

• Property enquiries have increased by 17%

• Available homes for sale have risen by 12%

As Guy Gittins, Foxtons CEO notes: "Today may not have been the Autumn Statement we were hoping for, but it has been what we largely expected. As a result, we can expect the heightened level of market activity seen this year to continue, with market momentum strengthening as we head into 2025."

Critical Timeline for Stamp Duty Changes

The most significant announcement affecting home movers is the upcoming change to stamp duty thresholds in March 2025. According to Rightmove's property expert Tim Bannister: "We may now see a rush of buyers, particularly those purchasing for the first time, either bringing their plans forward or trying to get their deal done before charges go up."

Important timeline considerations:

• Average property transaction time: 152 days (approximately 5 months)

• Recommended planning start date: October 2024 for March 2025 completion

• First-time buyer threshold changes: £425,000 to £300,000

Financial Impact Example

As highlighted by Rightmove: "If a first-time buyer buys a property at the average UK price of £370,759 they will pay £3,538 in stamp duty from March 2025, compared with nothing now."

Investment Property Changes and Rental Market Impact

The budget brings significant changes for landlords and the rental market:

1. Stamp Duty Increase

   • Surcharge rising from 3% to 5% on second homes

   • Immediate effect from October 31, 2024

2. Market Impact Angharad Truman, ARLA Propertymark President warns: "We continue to see a growing disparity in the number of private rented homes available against a backdrop of increasing demand from tenants... The private rented sector plays a crucial role in housing the nation with over 4.6 million homes in England alone."

New Housing Developments and Infrastructure

The government has committed £5 billion for housing development, including:

• Liverpool Central Docks: 2,000 new homes planned

• Nationwide energy-efficient homes: 3,000 units

• Affordable housing initiatives

• Regional development projects

Moving Tips in the Current Market

1. Early Planning and Booking

   • Book removals services well in advance

   • Consider flexible completion date options

   • Read our guide on stress-free home removals

   • Check out our house moving tips

2. Storage Solutions

   • Short-term storage for chain breaks

   • Temporary storage during property transitions

   • Secure facilities for staged moves

   • Learn more about our storage services and storage for furniture

3. Professional Packing Services

   • Speed up your moving process

   • Ensure valuable items are protected

   • Reduce stress during tight timeframes

   • Discover our professional packing services

   • Read our guide on hiring packers for moving

   • Check out our tips for labelling boxes

4. Special Considerations

   • Get advice on moving with children

   • Learn about moving with pets

   • Tips for long distance moves

   • Read our guide on saving money when moving

First-Time Buyer Support

For first-time buyers facing the upcoming changes, we offer:

• Flexible moving schedules

• Budget-friendly packing materials

• Moving day guidance

• Free initial consultations

Market Outlook

Richard Carter, CEO of Lenvi notes: "Stabilising inflation rates and the decision not to increase Capital Gains Tax (CGT) on residential property is certainly positive for stimulating growth in the housing market. Not to mention making the mortgage guarantee scheme permanently available at a rate of 95%."

How We Can Help

As your local removals experts, we're here to support you through these changes with:

• Flexible booking systems

• Secure storage solutions

• Professional packing services

• Expert moving advice

• Local area knowledge

• Experienced moving teams

Additional Services for Complex Moves

• Property Clearance: For those needing to prepare properties for sale

• Furniture Assembly: Support settling into your new home

• Commercial Relocations: For business moves and office relocations

• International Moves: Expert assistance for overseas relocations

Stay Informed

This article draws from Rightmove's Budget Analysis and IFA Magazine's Expert Reactions. For the most current advice on your specific situation, we recommend consulting with your financial advisor or property professional.

Ready to start planning your move? Contact us today to discuss how we can help you navigate these changes and ensure a smooth moving experience.