The Government’s latest Spring Statement offered no big surprises for the housing market, and for many property experts, that’s actually welcome news. Stability, they say, is exactly what the market needs right now, however, there was little focus on wider property reform.
We hear from property experts across the sector as they share their perspectives on what the statement means for the market, and why certain reforms, like Stamp Duty, remain high on the agenda.
Ben Thompson, Director of Home Moving Strategy, Mortgage Advice Bureau:
“In the current climate, ‘no surprises’ is actually good news. We weren’t expecting fireworks from the Spring Statement, and in many ways that’s reassuring. Right now, the housing market doesn’t need dramatic announcements or last-minute policy changes – it needs stability. So a statement that leaves housing largely untouched is, in itself, a positive.
That said, it does feel like another missed opportunity. Big issues like Stamp Duty reform still haven’t been tackled, and that continues to hold people back. For many families, it’s not the mortgage that stops a move – it’s the hefty additional costs. These expenses can shut down plans before they’ve even started, which slows the whole market and, ultimately, the wider economy.
For customers, the message is simple: it’s business as usual. The ambition to own a home hasn’t gone anywhere. With forecasts suggesting rates will gradually ease into 2026, things are starting to move in the right direction for buyers. This is why getting expert mortgage advice is crucial. They’ll keep you focused on your long-term financial goals, helping you make confident decisions without being knocked off-course by the headlines.”
Rachel Geddes, Strategic Lender Relationship Director, Mortgage Advice Bureau:
“From a lender’s point of view, a steady Spring Statement with no big surprises is actually good news. When the Government avoids sudden policy changes, it helps keep the financial markets stable and consistent. That creates a more confident environment for lenders, giving them greater certainty about where things are heading and making it easier to price mortgages competitively.
Rather than reacting to unexpected policy shifts, lenders can focus on competing for customers and strengthening their propositions to support more borrowers. That’s typically when we see more innovation, broader criteria, and competitive deals coming through to market.
For most people, the real question is simple: what does this mean for my monthly payments? That’s where expert mortgage advice really comes into its own. An adviser’s job is to filter out the noise, explain what’s actually relevant to you, and help you choose a mortgage that fits your budget now – and still makes sense for your plans in the years ahead.”
Felicity Barnett, New Build & Affordable Housing Partnerships Manager, Mortgage Advice Bureau:
“The Spring Statement staying quiet on housing feels like a missed opportunity, and doesn’t address the deeper, longer-term challenges facing housebuilding and planning. We’ve heard the big headline commitments – such as 1.5 million homes and ‘build, baby, build’ – but 12 months on, we’re still waiting for clarity on how that ambition will actually be delivered.
Stamp Duty is still a major sticking point right across the housing chain – whether you’re a first-time buyer, a growing family needing more space, or someone looking to downsize. When moving becomes too expensive upfront, transactions slow down. Plus, when fewer homes change hands, it becomes harder for developers and affordable housing providers to bring forward new sites and keep building at the pace the country needs.
If the government truly wants to boost growth and deliver more homes, we need a clear, long-term housing strategy that goes beyond short political cycles. Demand for new homes is still strong, and 2026 is looking increasingly positive. Now it’s about making sure policy supports that momentum – giving developers, housing providers, and homebuyers the confidence to move forward with their homebuying goals.”
Jason Tebb, President of OnTheMarket comments:
“Today’s Spring Budget was as low‑key as many of us were hoping for. After the turbulence surrounding the Autumn Budget, a continued period of clarity and certainty is now what the market needs more than ever. This is certainly a step in the right direction to restoring a sense of stability and rebuilding the confidence among buyers and sellers that drives market momentum.”
Sanjay Joshi, Director of Lawsons & Daughters comments:
“While no major housing announcements were expected as part of the Spring Statement, the stability that comes with that is welcome after a tumultuous Autumn Budget. However, the market still needs reassurance as confidence among buyers and sellers is only just beginning to recover after a volatile period.
Support for first-time buyers remains essential, as they help keep the market moving and unlock activity across the wider housing chain. Landlords also play a vital role in providing rental homes and maintaining supply. With significant legislative changes on the horizon, including the Renters’ Rights Bill and evolving energy efficiency requirements, clarity will be important to ensure continued confidence and investment across the sector. Protecting confidence across all parts of the market will be key to sustaining activity in the months ahead.”
Elle Cass, head of strategic built environment growth at SLR Consulting and 2026 chair of the Royal Town Planning Institute (RTPI), comments:
“The Spring Forecast highlights the ongoing challenges facing housing delivery across the UK. While figures for London often dominate headlines, the reality is far broader: persistent undersupply across multiple regions, combined with affordability pressures, skills shortages and funding constraints, is creating a perfect storm for stalled delivery.
The new planning framework is being relatively well received and signals a welcome shift towards more strategic thinking. However, the forecast makes clear that planning reform alone will not close the gap. To meet national housing needs – particularly for affordable homes – what is now required is a clear commitment to a modern national housebuilding programme. The last time housing delivery increased at the scale the country needed was through nationally coordinated intervention, and today’s structural challenges demand that same level of ambition.
Affordable housing remains one of the most significant pinch points. Registered providers and private developers are operating under intense financial and regulatory pressure, making it increasingly difficult to deliver affordable homes alongside market housing. At the same time, a widening skills gap continues to limit capacity, underlining the need for sustained investment in training and in attracting new talent into the sector.
The Spring Forecast also points to an important shift in planning policy towards strategic alignment across wider geographies, rather than leaving housing numbers to be contested authority by authority. This is a positive step. Strategic frameworks can remove long-standing local stalemates and allow local planning authorities to focus on delivery – but they must sit within a properly funded, nationally led housebuilding programme if they are to translate into real homes on the ground.
Finally, housing supply and affordability must move forward together. Measures such as early release of Section 106 homes or the renegotiation of stalled schemes can help maintain momentum in the short term, but they are only part of the solution. Alongside increasing delivery, there also needs to be a stronger focus on access to home ownership, including enhanced mortgage liquidity and more diversified and innovative mortgage products. For many households currently locked out of the market – particularly those paying private rents that far exceed the cost of a typical mortgage – improved access to finance could play an important role in easing pressure across the wider housing system.
The Spring Forecast is a clear reminder that incremental change will not be enough. A coordinated national housebuilding programme – bringing together planning, funding, skills, delivery and housing finance – is now essential to achieve meaningful progress and build long-term resilience into the housing system.”
Richard Pike, sales and marketing director at Phoebus Software, in reaction to the Spring Statement and the Office for Budget Responsibility (OBR)’s latest economic forecast:
The Chancellor said this would be a low-key announcement, but the conflict in the Middle East cast a shadow over her Spring Statement today. The OBR’s economic outlook predicts a loosening labour market and falling energy and food prices will contribute to inflation reaching its 2 per cent target in late 2026. However, it’s difficult to see how inflation won’t be affected by the uncertainty caused by the current military conflict. We’re seeing mortgage rates already starting to tick up as the market prices in a potential base rate hold by the Bank of England later this month.
The OBR also predicts net additions to the UK housing stock will fall to a low of 220,000 in 2026-27, way below volumes in the early 2020s, as recent subdued housing starts to feed through. It also predicts housebuilding will reach 1.3 million by 2030, below the Government’s stated ambition to build 1.5 million homes. Rachel Reeves needs to consider reforms to incentivise housebuilders and create impetus in the building sector if she’s going to hit her target.”
Sam Kirtikar, CEO of The Mortgage Broker Group, said:
“Today’s message from the Chancellor is that lower mortgage rates can take pressure off household budgets and provide some breathing space. However, this is of course not the same for everyone, and it entirely depends on loan size, rate and the term of a mortgage. What matters, though, is the direction and when rates ease, fixed deals do usually get more affordable, and lenders can compete harder.
For people due to remortgage in 2026, the practical point is still to review things early and avoid last-minute decisions, by focusing on what you can afford each month and not just the headline rate. Getting sorted earlier means you can switch prior to completion easily if the rates do come down again.
The government also highlighted forecasts for living standards and individual growth improving, meaning household finances improve, which in turn supports the mortgage market because affordability becomes less stretched and people are less exposed to financial shocks. For the mortgage industry, these calmer waters encourage rate switches and remortgages, which in turn encourage competition and put more pressure on lenders to deliver faster, smoother processing and more sustainable affordability.
“What was really missing today was anything that tackles the root problem in housing, and the fact that we still don’t build enough homes in the places people need them. Mortgage rates can move up and down, but if supply stays tight, it keeps prices and rents under pressure. Personally, I would also like to see more focus on the practical costs that catch people out when they move home, such as stamp duty and legal fees, and perhaps more around making a home cheaper to run as energy bills play a huge part in affordability, and it’s the bigger picture that really makes mortgages more sustainable.”
Nathan Emerson, CEO of Propertymark, comments:
“Today’s Spring Statement underscores the ongoing pressures in the UK housing market, particularly around affordability for renters and first-time buyers. While it does not introduce major new housing policies, the focus on supporting economic stability and the commitment to implement planning reforms by the end of the year are welcome steps.
However, while a commitment to stability is positive, the UK Government needs more ambitious investment to ensure that the UK’s housing needs are met. Latest figures from the Office for National Statistics show that just over 100,000 homes were completed between January and September 2025, an 11% decrease from the same period in 2024.
Mortgage approvals remain below pre-pandemic levels, and house prices continue to rise modestly, leaving many prospective buyers struggling to enter the market. Stamp Duty remains a significant barrier to mobility. Past Stamp Duty holidays have shown that relief can stimulate transactions and speed up sales, yet current thresholds do not reflect regional price differences, meaning some first-time buyers still face substantial upfront costs.
Pressures in the rental market are equally acute, with high demand and limited supply having placed upward pressure on rents. Supporting investment in new rental housing is essential to meet demand, improve affordability, and provide tenants with secure, reasonably priced homes. Initiatives that encourage development across all tenures will help balance supply and demand, easing cost pressures for renters while also enabling first-time buyers to step onto the property ladder.
As the Autumn Budget approaches, the UK Government has the opportunity to implement policies that make a real difference. Revising Stamp Duty thresholds and supporting investment in the private rented sector would improve market efficiency, increase housing supply, and address affordability challenges for both renters and buyers.
Propertymark will continue to work with policymakers to ensure reforms are practical and effective. With pronounced seasonal and regional variations in the housing market, a balanced, supply-led approach is essential to deliver sustainable relief for households across the UK.”
