The Chancellor insisted she was within 'touching distance' of hitting the target after the Office for Budget Responsibility (OBR) forecast 1.3million homes would be built by the 2029-30 financial year.
Labour is on track to miss its target of building 1.5 million homes, despite efforts to build on the Green Belt. Mortgage rates are forecast to rise to 4.7% by 2028. Rachel Reeves claims she is within touching distance of 1.5 million target. The Office for Budget Responsibility (OBR) forecasts 1.3 million homes will be built by 2029-30. Planning reforms are predicted to have a minimal impact on house prices. The government is prioritizing brownfield sites and redefining "grey belt" land for development, removing previous greenbelt policies.
