The Intermediary – December 2025 - Flipbook - Page 62
AU T U M N B U D G E T
Rapid reaction
“The Committee on Fuel Poverty has rightly
argued that “more thought is needed” on how to
support landlords who will struggle to make the
investments required.
“The assumption underpinning much of this
Budget appears to be that landlords form a
Simon VernonHarcourt
Design and planning director
at City & Country
homogenous, wealthy group with the ‘broadest
shoulders’.
“In reality, HMRC data shows that the average
“The Government needs to get the economy
moving again – and the quickest way to do
unincorporated landlord declares £19,400
that is by unlocking the housing market. Right
a year in rental income, while Government
now, confidence has stalled amid talk of higher
statistics estimate median non-rental income
taxes, and people are hesitant to move. We need
is £25,000. Many do not have the financial
a clear plan and decisive policy action to help
resilience to absorb higher costs without
buyers take that next step.
increasing rents.
“The sector needs a stable, long-term tax
“We’ve seen what’s possible before. In the
1950s and ‘60s, the UK was building around
framework that encourages investment, boosts
200,000 homes a year, driven by ambitious
supply and enables landlords to meet rising
councils and smaller builders, yet we’re still
standards. Without this, the pressure on tenants
falling short of that today.
will continue to grow, and the housing market
risks becoming even more constrained.”
“We also need a planning system that works.
Labour’s plans to rethink the green belt and
introduce the concept of a ‘grey belt’ are bold but
Jon Di-Stefano
CEO at Greencore Homes
“The Autumn Budget comes at a crucial moment
for the housing sector, and it is encouraging to
see the Government place such clear emphasis
on long-term stability and fiscal responsibility.
With borrowing costs falling and the OBR’s
updated growth forecasts rising from 1% to 1.5%,
this signals some economic confidence, welcome
news after months of uncertainty.
“The Chancellor has faced difficult choices
on taxation, the cost of living and Government
spending, but what the industry needed most
was clarity, stability and an end to the prebudget speculation.
“However, it was disappointing not to see any
reduction in the Stamp Duty burden, and no
indication of any additional stimulus for the
necessary steps to build where people actually
want to live. Allowing well-designed schemes
to move through planning more efficiently
will help smaller, design-led developers like us
deliver the kind of sustainable communities the
country needs.
“But building homes also means investing
in people. The construction sector can be a
real engine of growth if we put the right focus
on training and encourage more people into
the trades. We can’t build homes without
skilled hands – and funding to make training
apprentices aged under 25 and under free for
SMEs is a step in the right direction.
“The goal shouldn’t just be to build more
houses, but to create places people are proud to
call home.”
Paul Silver
CEO at Dorchester Living
housing market.
“After several months of more positive
Government policy in terms of housing, the
priority must now be for the Government to
priority for the Government following the Budget
– not just in words, but in action. Housing and
stand by its commitment to building new homes
infrastructure are fundamental to the strength
and to continue supporting the momentum that
and stability of our economy. We need clear,
is beginning to emerge.
consistent incentives that genuinely support
“With very few announcements on housing [in
the Budget], we hope this does not signal a loss
of focus at such a crucial time for housebuilders.
“Housing plays a vital role in the UK’s
60
“My hope is that housing remains a genuine
delivery across the sector.
“As for the wider economic landscape, we
desperately needed a balanced but deflationary
Budget to bring down interest rates and
economic recovery. Anything that helps
stimulate investment and growth. Time will
people buy and sell homes stimulates growth,
tell whether the measures announced will be
not only within our sector, but across the entire
enough, though stronger income restraint would
economy.”
likely have been a more effective route.
The Intermediary | December 2025
