2016 was certainly a year of Changes, to quote singer/songwriter David Bowie, whose death in January was for many a portent of the tumultuous year ahead in the political and economic spheres. The three per cent rise in stamp duty on second homes and buy-to-let purchases was greeted with some dismay, particularly as the government's initial consultation had suggested that there could be an exemption for investors buying 15 or more properties.

The post-Brexit property market is proving to be unpredictable with all involved taking precautionary steps to guard themselves against any potential longer-term fallout. Following three years of growth the housing market had already been slowing in the months leading up to the referendum. The result certainly did not improve its fortunes. Perhaps unsurprisingly in the aftermath of the referendum result, the FT reported that homebuyers were now ?assessing the potential impact of the vote on house prices?.

The Government's proposed planning and housing sector reforms attempt to address the housing shortage, but what do they signify for housebuilders and what are some of the corollary implications for funders and solicitors who act for these parties?