MARKET
Last year’s Budget showed little in the way of help for first time buyers, but will 2026 be the year to finally get on to the property ladder? Ginetta Vedrickas hears from the experts Ginetta Vedrickas
Looking ahead to 2026, Dan Wilson Craw , Deputy CE, Generation Rent, feels that buying a home, especially if you are single, is becoming impossible. “Homes are the foundations of our
Sophie Horgan , Director of Midlands-based Horgan Homes, calls the Budget a “sticking plaster” which didn’t address issues holding back the UK economy. “I wanted to see clear action to prioritise the small housing sites and SME constructors who are the backbone of housebuilding in this country. Things like cutting red tape and affordable housing obligations around small sites of 20 homes or fewer would have made a huge difference.
lives, but decades of rising house prices have left homeownership off-limits to single people in most of the country, and impossible in London if you don’t have family wealth. Things are easier for couples because two salaries let you borrow much more on a mortgage, but, even then, you need to sacrifice a large chunk of your disposable income to raise the deposit you need. Building more homes will slow the rise of rents and prices, reducing the time needed to save. But to really make a difference, the Government should look again at the advantages investors have, such as interest- only mortgages, that have allowed them to outbid first time buyers. Giving Metro Mayors the power to limit rent increases in cities like London would also help give renters some breathing space to start saving.”
“I heard little which will help first time buyers achieve their housing dreams and even less about creating the sort of Government-backed finance deals which would enable smaller builders to press ahead with projects with real confidence. We have heard plenty of talk from this Government about getting Britain building, but that simply won’t happen unless the army of SME builders is supported to create the homes we know people want.The fact we heard so little about how the Government might achieve that means not only is there no chance of building the 1.5m homes the Government has promised, but that generations of people now look unlikely to be able to follow their dream of owning their own home for years to come.”
Kevin Stevens , of E5 Living, currently building new homes in Lincolnshire, says that the Chancellor failed to deliver policies necessary for economic growth. “I had asked if the Government had the courage for change, we now know it doesn’t. The Budget reflects more muddled economic thinking and short-term political opportunism, neither of which is good for our country. I heard little in the way of action to help the hundreds of small and regional builders who are hanging on by their fingernails at the moment. There was no significant new action to clear more of the barriers which stand in the way of development and precious little help to build the skills and talent the construction industry so desperately needs. “Where was the help for first time buyers
Jennifer Cobley , Group Sales, Marketing & Customer Experience Director for Places for People, feels that confidence will be key in helping first time
buyer make their move. “The market has slowed due to recent economic uncertainty, but with Government attention returning to housing and interest rates gradually easing, 2026 could be the right moment to take that important first step on to the property ladder. At Places for People, we understand how vital a healthy, functioning market is. We continue to deliver affordable homes, including Shared Ownership properties, because they offer a realistic and secure route on to the property ladder, particularly when traditional affordability remains a challenge. Lower deposits, reduced monthly costs, and the option to buy more shares over time make Shared Ownership an accessible pathway for many. Rising build costs and evolving regulations will continue to shape the sector, but our commitment remains firm: to provide high-quality, future-proofed and affordable homes in the places people want to live.”
to allow them to get on to the property ladder? We have our own scheme running on our King’s Park Village development at Grimsby, but surely the Government should be prioritising action too. Instead, we got a mansion tax and a series of wealth taxes just because the Chancellor needed to throw some red meat to her backbench Labour MPs. How that is supposed to help build liquidity in our housing market – as reform of Stamp Duty might have done – or grow our economy is anyone’s guess. “The mansion tax will simply fuel an exodus of people out of this country who would otherwise be creating new jobs, employing local people and generating wealth. Blaming people for being successful is no recipe for a prosperous future. It is now painfully clear that the Government will miss its housing construction targets in spectacular style and that the Chancellor’s credibility has never been lower. Despite saying she is on the side of business, the chancellor has failed to listen to the experts in our industry who have set out some of the things she needed to do to get the UK building again. I fear we will pay a heavy price for her inability to listen.”
92 First Time Buyer February/March 2026
Made with FlippingBook Digital Proposal Creator