The OBR鈥檚 March 2026 (EFO), released alongside chancellor Rachel Reeves鈥� Spring Statement, shows that have not yet resulted in a hoped for boom in housebuilding.
In its , the OBR, responsible for providing independent analysis of government spending, said that NPPF reforms could 鈥渂oost housebuilding by 170,000 in total over the next five years, resulting in cumulative UK-wide net additions to the stock of 1.3 million from 2025-26 to 2029-30 (a 16 per cent increase). At the forecast horizon annual net additions to the UK housing stock are projected to reach a forty-year high of 305,000 per year.鈥�
A year ago, the OBR acknowledged that the impact of the changes would be a drop in the ocean: 鈥淲hile this would represent a significant acceleration in the pace of housebuilding, it would amount to a modest 0.5 per cent increase to the UK housing stock of over 32 million by the end of the decade.鈥�
Today, the OBR reported that even these modest attempts to meet demand for new homes had so far failed to have any impact on the housing crisis. 鈥淣et additions to the UK housing stock are expected to fall from an average of 260,000 a year in the early 2020s to a low of 220,000 in 2026-27, as recent subdued housing starts feed through.鈥�
But the office held out hope for the future. 鈥淲e then expect net additions to rise sharply to just over 305,000 by 2030-31, reflecting the impact of planning reforms.鈥�
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