The annual Autumn statement is on Wednesday and significant issues are set to be addressed, one in which is the UK's property market, the outcome which will be outlined by the Chancellor Philip Hammond is unknown, and is thought to go either way.

Many of the policies that George Osborne had put in place from when he was the chancellor, have been eliminated by Hammond including one of the break through policies the Help to Buy mortgage scheme which will end at the end of this year.

As had been predicted by Osborne the UK housing market has not been as hard hit by Brexit as had initially been thought. However first time buyers are still hit hard as it is proving increasingly hard to get on the property ladder, and even though houses are continuing to be built across the country despite not being the demand for it.

The other sector hit is the rental sector as it faces tougher rulings, changes to mortgage tax relief that will be coming in to affect in 2017.

There have been calls for changes to help landlord and changes to stamp duty to enable first time buyers and those who are moving on to the second step of the property ladder.

A poll last week carried out by The Yorkshire Building Society displayed that first time buyers believed that not having to pay stamp duty would make buying a home easier. The building society claims that the results of the poll are clear evidence that the stamp duty needs to be altered and encourages the government to make the changes. The Yorkshire building society has estimated that the first time buyer would be saving around £3,791 and in London £13,171. 

It is thought further changes will be announced concerning the property market on Wednesday, stay tuned..