Daniel Austin, CEO and co-founder of real estate finance specialist ASK Partners, has called on Chancellor Rachel Reeves to deliver urgent and decisive action in the Autumn Budget to restore confidence and stimulate growth in the housing market.
In an open letter to the Chancellor, Austin warns that the market is stagnating under the weight of speculation and uncertainty, with investors, developers, and homebuyers adopting a “wait and see” approach in response to mooted tax reforms – including the extension of National Insurance to landlords, a potential overhaul of capital gains tax, and replacing stamp duty with an annual property levy.
“Each policy under discussion may have fiscal merit,” Austin writes, “but they risk serious unintended consequences – from worsening supply and regional inequality to creating multibillion-pound revenue gaps.”
He argues that the uncertainty alone is paralysing activity – and without clarity, the fragile signs of recovery seen in recent house price and mortgage data could quickly fade.
The letter outlines seven key priorities for the Chancellor to consider this October:
Tax clarity – End speculation and ensure any reforms are phased, predictable and tied to supply-side incentives.
Support SME housebuilders – Restore the SME sector with planning support, small site access, and equity funding.
Fix the planning system – Remove political bottlenecks and fund private sector support to speed up approvals.
Tackle labour shortages – Back off-site construction to bring in younger, more diverse talent.
Revive social housing – Reform compulsory purchase to allow councils to deliver at real scale.
Accelerate brownfield delivery – Grant automatic planning for ESG-compliant regeneration projects.
Unlock investment – Rebuild investor confidence with clear, long-term frameworks for capital deployment.
“Housing has historically led the UK out of downturns,” says Austin. “The sector is ready to deliver – but we need credible, long-term policy, not short-term signals.”
He notes that the UK continues to fall well short of the 385,000 new homes per year needed to address affordability and economic growth – and calls for radical reform rather than reactive changes.