According to the latest forecasts from the Office for Budget Responsibility, growth in 2026 will be at 1.1%, down from the 1.4% originally forecast in November last year.

Inflation is expected to fall faster than previously thought, reaching 2.3% during 2026 before reaching the Bank of England’s target of 2% by the end of this year.

Industry professionals have reacted to the Spring Statement 2026

Ryan Etchells, CCO at Together:

“With the volatility in the Middle East, the Chancellor certainly aimed to deliver an encouraging outlook for the UK economy. Nods to improving mortgage and cost of living affordability, as well as calls to “back the builder; not the blocker” shows that the government is approaching from the right place.

“However, missing from today was any concrete detail on how the government will actually address affordability and encourage housebuilding — a vital part of strengthening our economy.

“Reeves neither built on the previous Budget nor nodded to the next. Industry needs clarity as much as stability. The Chancellor promised us stability, now she needs to clarify how she’ll deliver it — and quickly.”

Ben Thompson, director of Home Moving Strategy at Mortgage Advice Bureau:

“In the current climate, ‘no surprises’ is actually good news. We weren’t expecting fireworks from the Spring Statement, and in many ways that’s reassuring.

“Right now, the housing market doesn’t need dramatic announcements or last-minute policy changes – it needs stability. So a statement that leaves housing largely untouched is, in itself, a positive.

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“That said, it does feel like another missed opportunity. Big issues like Stamp Duty reform still haven’t been tackled, and that continues to hold people back. For many families, it’s not the mortgage that stops a move – it’s the hefty additional costs. These expenses can shut down plans before they’ve even started, which slows the whole market and, ultimately, the wider economy.”

Nathan Emerson, CEO at Propertymark:

“While [the Statement] did not introduce major new housing policies, the focus on supporting economic stability and the commitment to implement planning reforms by the end of the year are welcome steps.

“However, while a commitment to stability is positive, the UK government needs more ambitious investment to ensure that the UK's housing needs are met.

“Mortgage approvals remain below pre-pandemic levels, and house prices continue to rise modestly, leaving many prospective buyers struggling to enter the market.

“Pressures in the rental market are equally acute, with high demand and limited supply having placed upward pressure on rents. Supporting investment in new rental housing is essential to meet demand, improve affordability, and provide tenants with secure, reasonably priced homes.

“As the Autumn Budget approaches, the UK government has the opportunity to implement policies that make a real difference. Revising Stamp Duty thresholds and supporting investment in the private rented sector would improve market efficiency, increase housing supply, and address affordability challenges for both renters and buyers.”

Jeremy Leaf, north London estate agent and a former RICS residential chairman:

 “The need to improve economic growth and address rising unemployment is probably even more important now than it was at the time of last November’s Budget but the Chancellor failed to offer much prospect of change.

“While there has been less speculation about tax rises and spending cuts this time around, the Chancellor also hasn’t delivered any encouragement for first-time buyers, who are the engine room of the housing market and enable transactions to be unlocked further up chains.

“There was nothing in terms of stimulating more new housing or any detail as to how she plans to increase transactions, which are not only good for the property industry but also job and social mobility, as well as keeping house prices in check.

“While the spring forecast is unlikely to choke off recent increases in home buyer and seller confidence, what happens in the Middle East — with its potential to increase inflation and keep interest rates higher for longer — may have more of an impact."