Leaders from across the UK's built environment sector share their responses to the government's Spending Review.
Timothy Douglas, Head of Policy and Campaigns at Propertymark, comments:
“Investment in rejuvenating places up and down the country is welcome and ensures that people live, work and want to move into vibrant communities.
Propertymark also welcomes additional funding for affordable and social homes as we know this will help meet the UK Government’s ambitious housing target and have the knock-on effect of bringing down the cost of renting in the private rented sector.
Planning reforms must also work alongside a housing strategy which is much anticipated to be published by the UK Government to ensure we are building the right homes in the right places, and we can meet housing need up and down the country.”
Richard Steer is Chair of Gleeds Worldwide, writes:
“The latest Spending Review sends a clear message that infrastructure remains at the heart of the government’s economic growth strategy, but it is a long-term ambition not a short-term fix.
We welcome the continued investment in transport, education, and energy transition projects as well as housing.
These commitments offer much-needed stability and the opportunity to plan long-term — it also gives significant opportunities for both public and private sector collaboration. As ever, the devil is in the detail and labour shortages could derail housing targets, but £1.2bn in enhanced training funding is welcome.
If the government creates the right vibe investors may well see UK as a safe haven in choppy seas, as long as it does not saddle business with further tax hikes & employment challenges."
CPRE chief executive, Roger Mortlock, writes:
On housing
'More cash for an Affordable Housing Programme is welcome and could make a real difference if it's directed towards the escalating rural housing crisis.
'The way "affordable" housing is defined, as 80% of market value, keeps many new homes out of reach for ordinary people, especially in the countryside.
'CPRE is calling on the government to redefine "affordable" housing in line with average local incomes.'
On transport
'What use are frozen bus fares if there’s no bus to take? A fifth of bus routes in the countryside have been cut since 2020, while rural communities receive only half as much public transport funding per head compared to those in towns and cities.
'The government should urgently ensure that rural communities see their fair share of the £15bn announced for public transport outside London.'
Jonathan Pearson, director at Residentially, writes:
“This new funding delivers the clearest signal yet that the Government understands the scale of the challenge facing the country’s affordable housing providers.
The housing associations I work with have always stressed that they stood ready to scale up their efforts in line with the Government’s own ambitions, but they first needed to know how much money was available and how it would be allocated. Today’s announcement goes a long way towards answering that call.
“While we’re still awaiting further clarity around how and when this funding will be allocated, they can at least begin to plan multi-phase schemes, secure land, and mobilise supply chains with confidence and at the pace required to help meet the 1.5 million-homes target.
Not-for-profit housing associations are also forced to make every penny count when it comes to the number of new homes they can afford to take on, so longer-term certainty on rent is also going to be important when it comes to their developing their plans.”
Commenting on how the £39bn commitment to affordable and social housing is a long-overdue but hugely welcome, Daniel Austin, CEO and co-founder at ASK Partners, writes:
“The Chancellor’s commitment of £39bn to affordable and social housing is a long-overdue but hugely welcome intervention.
This funding, if deployed effectively, could mark a turning point in tackling the UK’s deep-rooted housing crisis.
Crucially, investment must now be matched by urgent planning reform, proper resourcing of local authorities, and meaningful support for SME housebuilders.
“Labour’s target of 300,000 homes a year has been pledged before but never met.
To succeed, this government must take bold, pro-growth steps, freeing up brownfield sites, embracing technology in planning, and ensuring lenders support a broader range of borrowers.
Significant investment in transport networks will encourage developers to build near new transport hubs, while more social housing will take pressure off the private rented sector and help balance out prices.”
Paresh Raja, CEO of Market Financial Solutions, writes:
"The £39 billion investment in affordable and social housing is hugely positive news.
If more homes are to be built across the UK, funding and policy must go hand in hand; for all the talk of planning reform, and the use of AI in improving the planning process, there's no escaping the fact that significant investment is required.
"Amidst concerns that Labour's promises of tackling the housing crisis would amount to little, this announcement could signal a notable step forward.
Government investment will encourage activity from the private sector, injecting fresh life into the housebuilding industry.
As ever, lenders must be ready to respond in turn; ensuring different types of borrower, from first-timer buyers to seasoned investors, are supported with the right products and fair, diligent ways of assessing applications is going to be absolutely vital in creating a more equitable future for the UK property market."
