The Chancellor’s Autumn Statement brought some welcome measures on housing, but the upcoming housing White Paper offers the opportunity to go further says John Elliott, Managing Director of Millwood Designer Homes.

Housing was high on the agenda in Chancellor Philip Hammond’s first Autumn Statement with welcome announcements that will boost the housebuilding industry and enable the delivery of more new homes. In total Government spending on housing is set to double over the next five years taking into account all of the additional measures announced.

The £2.3bn Housing Infrastructure Fund was announced to deliver infrastructure for up to 100,000 new homes in areas of high demand, as well as £1.4bn to fund an extra 40,000 affordable homes. This is in addition to the £3bn Home Building Fund announced at the beginning of last month.

We welcome any initiatives that help the increase the delivery of new homes but it is vital that these measures filter through quickly and are transparent so the industry can take advantage of what is offered and they will readily translate into more homes becoming available to those that need them.

The announcements put more emphasis than ever on affordability, while recognising that to meet the aspirations of home ownership. There are plans for a large-scale regional pilot of Right to Buy for Housing Association tenants, as well as continued support the Help to Buy: Equity Loan scheme and the Help to Buy ISA.

Funding of £3.1bn was pledged to the GLA towards 90,000 affordable homes in London. They also announced that the restrictions on the tenure mix housing associations can deliver will be relaxed, allowing providers to deliver a wider range of housing types.

In the rental market, there will be a ban on up-front fees charged by letting agents in England, news that had a very mixed reception from the industry, amid fears it will lead to rents increasing rather than saving tenants money.

Despite these positive measures, it was a missed opportunity for the Chancellor to go further. There was nothing included on stamp duty. The upcoming White Paper on housing provides the opportunity for further housing reforms to ensure we are on for delivering the new homes this country urgently needs, so let’s hope further good news awaits.