On this week's episode of Yahoo Finance Future Focus, our host Brian McGleenon spoke to Mortgage Advice Bureau deputy CEO Ben Thompson about the recent budget’s impact on housing affordability and accessibility for first-time buyers. Thompson highlighted how the increased stamp duty surcharge on second homes, rising from 3% to 5%, could discourage investors and holiday-home buyers, potentially freeing up more properties for first-time buyers. Additionally, the government’s ￡5bn investment in new housing, including ￡500m for the Affordable Homes Programme, aims to expand housing options in the long term. However, the budget missed extending stamp duty relief for first-time buyers, set to end in March 2025, which could intensify demand in the short term. Thompson also noted missed opportunities to support "reluctant renters" by making it easier for long-term tenants to buy their rented homes, suggesting that government-backed incentives and tax relief could encourage landlords to sell to tenants. Ultimately, Thompson saw Labour’s pivot from demand-side to supply-side interventions as a promising step to improve housing affordability for first-time buyers, though he emphasised the need for continued reforms.