NRLA slams Spring Statement for epic fail on three fronts

• NRLA Criticism: The National Residential Landlords Association called the Spring Statement a “missed opportunity,” citing failures to address rental housing shortages, tax system reforms, and the freeze on housing benefits.
• Housing Targets: Savills’ Lucian Cook questioned the feasibility of building 1.3 million homes by 2029, noting it falls short of Labour’s 1.5 million target for England and relies on optimistic transaction rates.
• Private Rental Sector Pressure: Goodlord’s William Reeve highlighted the sector’s struggles with supply and demand, criticizing anti-market reforms in the Renters’ Rights Bill and advocating for planning reform and better integration between social and private housing sectors.
• Challenges for Buyers: Rightmove’s Colleen Babcock expressed disappointment over the lack of a Stamp Duty deadline extension, which could impact 70,000 buyers. Rising mortgage costs (+59% over five years) and rents (+40%) continue to burden first-time buyers.

The statement has sparked widespread criticism, with calls for bolder measures to tackle housing and affordability issues.