The National Residential Landlords Association has hit out at the Spring Statement, which committed £625 million to construction funding but little else to boost housing market activity.
Ben Beadle, chief executive of the National Residential Landlords Association, said: “[The] statement was a missed opportunity to support renters across the country.
“It has done nothing to tackle the chronic shortage of rental housing to meet demand.
“It has done nothing to reform a broken tax system which is failing to encourage and support investment in energy efficiency improvements.
“And it has done nothing to address the unjust freeze on housing benefit which is leaving so many renters fearful of how they will afford their rents.”
His attitude was mirrored across much of the property industry, as there was also no news on a Help to Buy equity loan successor.
Mark Harris, chief executive of mortgage broker SPF Private Clients, said: “The Spring Statement was underwhelming as far as the housing market is concerned.
“The Chancellor missed an opportunity to boost all-important transactions by extending the stamp duty concession or introducing some discount for downsizers.
“She also did nothing for first-time buyers, with no incentives or assistance to get them on the housing ladder – a significant shame as first-time buyers are the lifeblood of the market and enable existing homeowners to move up the ladder.
“Housebuilding, easing planning rules and improving the supply of new homes is vital but there was very little detail as to how these targets will be delivered.”
