Budget 2026: Your First Homes, data centre covenant, and more highlights
Summary
The Budget includes several housing and development measures, notably no further building regulation changes in this Parliament except on safety, additional funding for social and affordable housing, and the launch of the Your First Homes scheme. It also sets out changes to business rates, devolution, procurement, and infrastructure funding, alongside a new covenant approach for data centres and support for energy and science investment.
Why it matters
Surveyors will need to track the housing and regulatory measures that may affect development viability, affordability, and compliance expectations. The emphasis on safety-related regulation, social housing delivery, and infrastructure investment may influence project pipelines and local market conditions.
Key points
- No more building regulation changes in this Parliament, except on safety
- Additional £1.5bn for the Social and Affordable Housing Programme
- Your First Homes scheme announced with developer fees and buyer deposit/equity loan terms
- Biodiversity net gain requirements removed for smaller brownfield housing developments
- Data centres will be asked to sign a covenant on community investment and water protection
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