Property prices boosted by Government’s plans to invest

The Government’s summer budget may not have done much to encourage home buyers but its investment in general infrastructure cannot help but boost property prices.

Chancellor George Osborne has pledged to return vehicle excise duty “to the use for which it was originally intended.”

He added: “Tax paid on people’s cars will be used to improve the roads they drive on. It is a major reform to improve the infrastructure and productivity of our economy.”

The government has previously pledged that by 2020-21 it will have trebled investment in improvements to the national road networks compared to 2012-13 levels, investing over £28 billion in enhancements and maintenance of national and local roads.

That investment in roads and infrastructure historically helps local house prices while they remain committed to developing the ‘Northern Powerhouse’ and after devolving further powers to Greater Manchester, there are further plans to work towards devolution deals with Sheffield, Liverpool and Leeds.

If you are thinking of moving house, we have a specialist residential conveyancing team that can offer expert advice. They can be contacted on +44 800MANSTEIN or email marcus.taylor@mansteinassociates.com