THE Chancellor’s spring statement contains some promising news for the property sector and maybe the wider economy, according to property expert Jonathan Rolande.

Jonathan, spokesman for the National Association of Property Buyers’ and the founder of House Buy Fast, said: “Rachel Reeves has delivered her Spring Statement, and it carries promising news for the property sector and, just maybe, the wider economy.

“Most interesting for those in our sector is the plan for 1.3 million new homes over five years.

“Frustratingly short by 200,000 desperately-needed homes from Labour’s original target of 1.5 million, it is still very pleasing to hear that the OBR has confirmed that with current plans, we will see a 40-year high in housebuilding.

“In other words, the figures add up and the planning reforms are in place to make it happen, but there is still a lot that could blow the best plans off course. But it is a significant step forward.

Property expert Jonathan added: “Inflation is finally heading in the right direction, down a little this week – but nobody I speak to is noticing. Already sky-high prices rising less slowly than before doesn’t feel like much of a win, if I’m honest, though it does mean interest rates are more likely to fall faster, and that we will notice.

“On top of this, wages are showing genuine signs of growth, providing renters and buyers with increased spending power and improved stability. As and when confidence returns, we can expect the market to recover quickly.

“Additionally, Reeves has announced the investment in skills, with 60,000 new construction apprenticeships. This will help to plug the gap in skilled workers left after Brexit and the pandemic.

“We should now be quietly optimistic. House prices are stable, inflation is decreasing, wage growth is strong, and interest rates are surely dropping soon – ideal conditions for the property market.

“But only whisper it.

“Too many times in recent years, we’ve all been blown off course by bigger events.

“Only in 2030 will we know whether all these plans came together to build just about enough homes for us to live in.”