The Intermediary – December 2025 - Flipbook - Page 60
AU T U M N B U D G E T
Rapid reaction
Budget
Reflections
The Intermediary asks the experts their thoughts
following the Budget, and what this means for the
UK housing and mortgage market
John Wickenden
research manager at Housemark
“The Budget offers some welcome help for
will be critical, and landlords will need clarity
that supports both investment and affordability.
“With digital contact now making up more
than a third of all customer interactions, and
continuing to rise, providers are contending
households, but it does little to address the
with sustained operational pressure across
deeper pressures shaping the housing sector.
teams and systems. Any future cost increases –
Housemark’s latest data shows that landlords
through environmental charges, wage uplifts or
are working hard to improve services despite
changes to tax policy – will land on an already
financial constraints. Tenant satisfaction has
stretched system.
held above 75% for several months and repairs
“What is needed is a long-term approach
performance is also strengthening, with close
that aligns rent policy, regulatory expectations
to 90% of jobs completed on time. These
and the investment required to maintain and
improvements are hard won, and they rely on
improve homes. Clear and stable frameworks
organisations being able to plan and invest
will help organisations use data and
with confidence.
“At the same time, voids performance is
improving and arrears are falling, which
benchmarking to drive efficiency, value for
money and better outcomes for residents.
“Short-term measures may ease pressure at the
suggests that providers are stabilising services
margins, but they do not address the structural
and supporting residents effectively. Yet this
challenges facing the housing sector.”
progress sits against a backdrop of rising
expectations on safety, damp and mould,
customer experience, energy performance and
Guy Gittins
data requirements. These expectations have
CEO at Foxtons
grown year-on-year without the corresponding
increase in long-term funding needed to deliver
for the housing market following a period of
stretch and the Budget does not alter that reality.
heightened uncertainty, as buyers and sellers
“The confirmation of the 10-year rent
settlement at CPI plus 1% gives landlords a
clearer planning horizon and that is welcome.
58
“The Budget has delivered much-needed clarity
them. The sector has absorbed a decade of
waited to understand the scale of potential
tax changes.
“With that uncertainty now lifted, we expect to
But a rent framework alone does not resolve the
see confidence return as households re-engage
mismatch between what providers are required
with their plans to move. While many were
to deliver and the resources available to deliver
hoping for a targeted Stamp Duty incentive to
it. The decision on convergence rules in January
support affordability, the absence of change
The Intermediary | December 2025
