The National Residential Landlords Association (NRLA) has strongly condemned the Spring Statement, calling it a “missed opportunity” to address the UK’s rental crisis.
NRLA Slams Government Inaction on Key Housing Issues
NRLA Chief Executive Ben Beadle criticized the statement, emphasizing its failure to tackle crucial challenges in the rental market.
“The statement did nothing to address the chronic shortage of rental properties, failed to reform a flawed tax system that discourages investment in energy efficiency, and ignored the unjust freeze on housing benefits, leaving renters struggling to afford their homes,” Beadle stated.
Housing Experts Question Government’s Ambitious Targets
The housing industry echoed NRLA’s concerns. Lucian Cook, Head of Research at Savills, questioned the government’s claim that 1.3 million new homes would be built by 2029. He pointed out that this figure assumes an annual increase in housing transactions to 1.48 million—far above the post-financial crisis norm of 1.2 million. Additionally, he noted that the 1.3 million figure applies to the UK, while Labour’s 1.5 million target applies to England alone.
Cook highlighted that planning reform alone will not be enough to meet these targets.
Private Rental Sector Under Pressure
William Reeve, CEO of Goodlord, reinforced concerns about the private rental market’s instability, citing supply and demand issues. While the government’s £2 billion investment in social housing is a step forward, the planned 18,000 new homes fall far short of what’s needed.
“We’re lagging behind other countries like France in housing stock. Anti-market reforms, such as banning over-bidding and abolishing fixed-term student tenancies, will make the situation worse for tenants instead of helping them,” Reeve said.
He urged the government to eliminate artificial barriers between social and private housing sectors, push for faster planning reforms, and create incentives for property investment.
Stamp Duty Deadline Concerns
Rightmove’s property expert, Colleen Babcock, criticized the government’s decision not to extend the upcoming Stamp Duty deadline. She warned that over 70,000 buyers—many of them first-time buyers—will miss out on the tax break.
“First-time buyers already face mounting challenges. Monthly mortgage payments have surged by 59% in the past five years, while rents have climbed by 40%,” Babcock said.
A Missed Opportunity for Housing Reform
With rising rents, increasing mortgage costs, and a stagnant supply of affordable homes, experts agree that the Spring Statement failed to deliver meaningful change. As calls grow louder for urgent reforms in housing policy, the government faces mounting pressure to act before the UK’s housing crisis worsens further.
