'With the soaring cost of living, getting on the housing ladder has become harder than ever'

Mark Harris, chief executive at SPF Private Clients:

‘It is hugely disappointing that the chancellor didn’t introduce any measures to improve the lot of the first-time buyer. With the soaring cost of living, getting on the housing ladder has become harder than ever and measures to help those struggling to buy their own home would have been welcome.

"The housing market is a significant contributor to the overall health of the economy and it is hard not to feel that Jeremy Hunt missed a trick by not introducing any measures to stimulate activity.

"On the plus side, the inflation outlook is encouraging, which should help bring interest rates back down and continue to make mortgage pricing more palatable to borrowers."