Just Mortgages comments on Spring Statement

26 March 2025

John Phillips, CEO of Spicerhaart and Just Mortgages said:

“With the backing of the latest OBR forecasts, the Chancellor lauded housebuilding figures that the OBR predicts will be at a 40-year high by the end of this parliament – with 1.3 million homes putting it in ‘touching distance of its target’. If this is achieved – and it’s a big if – this would clearly be fantastic news.

“It was good to see further funding earmarked for affordable housing, as well as additional funding for the next generation of construction workers – although both were announced in advance. Today’s statement really offered nothing new and once again demonstrates the clear disconnect within government between supply-side measures and tangible action and support to actually address affordability challenges faced by potential buyers in today’s housing market. We have long called for greater support - such as equity loan schemes or for existing schemes like Shared Ownership - to help people buy and ultimately support demand for new houses.

“The housing market plays a critical role in driving economic growth. While increasing supply is absolutely critical, we need measures now to give buyers the ability to buy – not just to enable people to achieve their homeownership goals, but to give the economy the adrenaline shot it needs.”