Southampton: JLL reaction to Budget – support for housing zones will stimulate housebuilding

Michael Green, head of the Southampton office of leading property consultancy JLL, said: “At a time when the UK is facing a chronic housing shortage, it is positive to see that the Government is supporting new ‘housing zones’ in locations including Poole. These zones should stimulate more housebuilding in areas of huge potential by enabling the regeneration of brownfield sites into thousands of new homes.

“The Help to Buy ISA for first time buyers can only be seen as a positive, encouraging step; encouraging prudent saving at a time when savings rates available for building a deposit are currently very poor. High house price growth means savings still won’t keep up with deposit requirements. This measure is unlikely to have a significant impact on broader house price growth.”