Roger File, Managing Director of Real Estate at Blenheim Estate Homes, commented: “In her first Budget statement, we were looking to the Chancellor to announce measures and policies to act as catalysts to continue to drive housing delivery.

“We are disappointed the chancellor decided not to freeze the stamp duty thresholds; keeping them at their current levels long term would have supported both first-time buyers and those selling their home and moving to a new property.

“Furthermore, it is frustrating that more tangible support wasn’t discussed to increase routes to homeownership and reduce affordability pressures, particularly for helping first-time buyers onto the property ladder. Such initiatives are vital to bring new homeowners into the market and maintain momentum. 

“Whilst the changes will not be received favourably by landlords second home buyers, after much uncertainty in the market, at least a clearer view on some of the policies is now present. 

“Like other UK housebuilders, hearing that the government is investing more to deliver their household plans is promising but await to see how the small print details and how these changes will support affordable housing and housing related infrastructure delivery. 

We were also hoping the announcement would cover further assistance or policies to allow housebuilders to get on and build the targeted number of homes so that we can meet the needs of the UK population.”