Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what modelling he has done of the impact of increased taxation on income from property on the availability of housing in London.

At Budget 2025, the Office for Budget Responsibility assessed that there would be a small impact on rental prices as a result of a 2ppt increase to property rates from April 2027. The Government expects changes at Budget 2026 to have a similar effect and therefore that it will not have a significant impact on rents.

At Budget 2026, we introduced new support for First Time Buyers through the Your First Home Scheme. The Your First Home scheme will support around 70,000 first time buyers and we estimate it will deliver around 20,000 new homes.

Private renters will also continue to benefit from the stronger protections brought in through the Renters Rights Act, including limiting rent increases to no more than open market rent and only once per year.