Chancellor Rachel Reeves will deliver the Spring Statement on 3 March, providing an update on the UK economy alongside forecasts covering growth, inflation, unemployment, public spending and tax receipts. While major policy changes are not anticipated, industry figures have outlined potential housing market measures for consideration.<\/p>\n
Peter Graham, partner and head of real estate and construction for the North at RSM UK, referenced internal research indicating that 33% of respondents believe removing stamp duty would improve development viability. Graham noted that economic volatility, tax restrictions and business rates represent barriers to sector investment.<\/p>\n
\u201cWhile abolition is unlikely, a reintroduction of reliefs for first-time buyers and multiple dwellings would be a welcome step towards easing the tax burdens and supporting the sector\u2019s long-term growth,\u201d Graham said.<\/p>\n
He also referenced the Autumn Budget announcement regarding zero-rated VAT for social housing, which has not yet proceeded to consultation.<\/p>\n
Lee Williams, national sales manager at Saffron for Intermediaries, identified three areas requiring attention: planning reform, change-of-use flexibility, and skills investment. Williams noted that planning application volumes have declined compared to last year, which he attributed to uncertainty affecting capital commitment decisions.<\/p>\n
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\u201cThe decline in planning applications from last year reflects that uncertainty, denting the Government\u2019s ambition to deliver 1.5 million new homes in this term,\u201d Williams stated.<\/p>\n
He suggested that converting vacant commercial space into residential or mixed-use developments could support town centre regeneration while increasing housing supply.<\/p>\n
Williams also highlighted labour shortages as a constraint on housebuilding delivery, calling for increased emphasis on trades and vocational qualifications. He noted that developers require support to scale operations and manage rising costs.<\/p>\n
The Spring Statement, while not a full Budget, can influence future decisions on taxation and government spending. The statement will be published alongside updated economic forecasts for the coming years.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chancellor Rachel Reeves will deliver the Spring Statement on 3 March, providing an update on the UK economy alongside forecasts covering growth, inflation, unemployment, public spending and tax receipts. While major policy changes are not anticipated, industry figures have outlined potential housing market measures for consideration. Peter Graham, partner and head of real estate and […]<\/p>\n","protected":false},"author":1,"featured_media":8841,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-8840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n