Although he made no explicit mention of the property industry in his Spring budget this week, his clampdown on those creating companies in order to reduce tax burdens could result in further control for landlords.

The Chancellor announced measures to reduce the gap in national insurance contributions between employees and the self-employed, keeping plans already in place to scrap class 2 NICs, but increasing class 4 NICs paid by the self-employed to 11% by 2018.

About a fifth of landlords across the UK will be affected by the National Insurance changes (as estimated by The Residential Landlords Association).

On a more local level, the Chancellor also announced new powers given to London, boosting devolution to the capital.

The deal will see Mayor of London, Sadiq Khan, and the boroughs being given more powers over infrastructure, transport, health, skills and employment, and criminal justice.