Spring Statement 2026: What It Means for the Property Market

The government has released its Spring Statement for 2026, giving an update on the UK economy and forecasts from the Office for Budget Responsibility (OBR).

Unlike the Autumn Budget, the Spring Statement rarely introduces major new policies. Instead, it provides updated projections on inflation, growth and borrowing.

So while there were no new housing policies announced, the economic forecasts still offer clues about what might happen next for mortgages, house prices and buyer demand.

Here’s what homeowners and buyers should know.

Inflation Is Expected to Continue Falling

One of the key forecasts from the Office for Budget Responsibility is that inflation should continue easing toward the Bank of England’s 2% target over the next couple of years.

Lower inflation matters for homeowners because it can influence interest rates and mortgage costs.

If inflation continues to fall, the Bank of England may have more flexibility to keep interest rates stable or potentially reduce them in the future. Lower borrowing costs typically make mortgages more affordable, which can encourage more buyers to enter the market.

Mortgage Rates Could Stabilise Around 4–5%

The Spring Statement forecasts suggest that mortgage rates could settle at around 4.5% on average between 2027 and 2030.

While this is higher than the ultra-low rates seen before 2022, it represents a more stable environment compared with the volatility of recent years.

For buyers, this kind of predictability can make it easier to plan a move and understand long-term monthly payments.

For homeowners approaching the end of a fixed deal, it also provides a clearer expectation of what future remortgage rates may look like.

House Prices Expected to Rise Steadily

The OBR’s forecasts suggest UK house prices could rise by roughly 2.4% to 2.9% per year over the next few years.

This kind of growth is broadly in line with wage increases, which suggests housing affordability may remain relatively stable.

Rather than dramatic spikes or falls, the outlook points to a more balanced and predictable housing market.

For buyers, this could mean less pressure to rush into a purchase. For sellers, steady price growth can help support property values over time.

What This Means for Buyers

For those considering buying a home, the Spring Statement points toward a more stable property market environment.

Mortgage rates remain higher than they were several years ago, but they are expected to remain relatively predictable. Combined with steady house price growth, this can make it easier for buyers to plan their budgets and timelines.

If you’re currently exploring the market, you can browse Properties for sale to see what’s available in your preferred area.

You can also explore more advice in our guides for buyers.

What This Means for Sellers

For sellers, stability in mortgage rates and house prices can help maintain steady buyer demand.

However, today’s buyers are increasingly data-driven. They often compare recent sold prices, energy efficiency ratings and time on market before making offers.

That means realistic pricing and strong presentation remain key to attracting interest.

If you’re considering selling, you can book your free house valuation to see what your home could be worth in the current market.

The Bottom Line

While the Spring Statement 2026 didn’t introduce any new housing policies, its forecasts point to a steady and predictable housing market in the years ahead.

Falling inflation, stable mortgage rates and moderate house price growth all suggest a calmer environment for buyers and sellers compared with the volatility seen in recent years.

If you’re thinking about making a move, you can contact Purplebricks to speak to a local property expert about your next steps.