Members of our Editorial Board have been summing up 2025 and telling us their hopes and fears for 2026.
We had 12 responses from our board, representing widely-varied sectors and skills. Many still spoke of their optimism – especially in Oxfordshire – while there is a mixed picture across the industry with some continuing to seek measures to make the planning process quicker.
David Barden, regional managing partner (Thames Valley) for Vail Williams, said: “I’m cautiously optimistic about the property market in the Thames Valley and Oxford for 2026. These are two of the UK’s most successful business locations, underpinned by a deep talent pool, strong infrastructure and an innovation-led economy that continues to attract and retain world-class enterprises.
“With the Bank of England signalling that inflation has now peaked, and interest rates now down to their lowest since early 2003 (3.75 per cent), this should ease some of the pressures facing the region’s business community in the year ahead.
“Nevertheless, the impact of forthcoming business rates changes on Thames Valley occupiers remains a significant concern, particularly for film production and data centre occupiers who are likely to be hardest hit by Revaluation 2026 and the new business rates multipliers.”
William Nassau-Lake, partner and head of development & housebuilding for Boyes Turner, said: “While demand for housing remains strong, developers will enter 2026 continuing to face mounting pressures from planning delays, rising construction costs, and continued uncertainty around interest rates and funding availability.
“The evolving regulatory landscape, particularly in relation to building safety, environmental compliance, and local authority obligations, adds further complexity and risk to projects.
“The principal fear is that smaller and mid-sized developers may be priced out or discouraged from bringing schemes forward, reducing overall supply and innovation within the housing market.
“The SME developers continue to be entrepreneurial and resilient despite challenging conditions, but without clearer policy direction and a more efficient planning system, market confidence may struggle to fully recover.”
Dan Channer, group managing director for Haslams Estate Agents, said: “For those of us who sell, let and manage residential property, our hopes for 2026 are simple: no more political intervention in our sector.
“Please can we have a clear run with no election, no ideologically-driven legislation, no change in Prime Minister (it would create uncertainty) and no symphony of rumoured tax changes.
“If we can extend the wish list, let’s add in a few more base rate cuts and a wider economy that holds up against any AI-related crash. If we can be greedy then we ask that the court system and First-tier Tribunal can cope with demand once the Renters Rights Act comes in.
“Despite the noise, 2025 has been a successful year for us – we’re ready for the same next year.”
Philip Waddy, consultant for WWA Studios, said: “We end the year with the publication of a draft of the revised National Planning Policy Framework which aims to simplify the planning process for small and medium sized developments by removing some of the barriers to growth.
“Particularly interested to see how the presumption in favour of suitably located development works in practice.
“Also in the draft is a commitment to build at higher density around rail stations – even those in the Green Belt. This concept has been touted for many years, often described as the ‘connected’ or ‘15-minute’ city. I gave evidence in support of this concept to a Parliamentary committee several years ago.
“For me personally, one of the highlights of 2025, as I transitioned from directorship into a consultancy role, was being awarded Leader of the Year at the OxProp dinner in September. It was a very enjoyable evening and a privilege to have won.
“For 2026, I cannot see any significant change in the fortunes of our industry. The November Budget in my opinion did nothing to boost growth.
“Reductions in interest rates may boost personal spending for those in work but the impact of AI could prove to be a game-changer. I can see the rate of unemployment sadly rising throughout 2026 as more businesses adopt AI.”
Nigel Horton-Baker, chief executive of REDA, said: “2025 has been a strong year for Reading but the coming year needs to be one in which talk turns to action if we are to stay on track for the long-term growth we crave.
“At a regional level, we need to come together across the Thames Valley to create one super-charged economy under the leadership of an elected Mayor.
“There are already good working partnerships across Berkshire between the public and private sector, tapping into Government funding for tourism and visitor development, innovation and tech projects, so we have shown we can collaborate successfully to create economic growth.
“Station Hill has set new standards in terms of office quality and attracting global companies, along with Green Park and our other office destinations. Next year, we need to work better together within the property sector to ensure our pitch for Reading is compelling and that the pipeline of relocating companies continues.
“Times are certainly hard for some areas of our economy, with town centre retail, hospitality and leisure companies feeling the downward financial pressures on their businesses, and taxation distorting the labour market.
“I am confident our resourceful businesses will find ways to factor in these new costs and that the economy will open up more job opportunities by the end of the year.
“The tools to support this exist in the form of new Government packages which will also allow Reading to align new jobs being created with local people to support sustainable growth.
“There has been a lot of debate about the future of town centres and Reading’s central districts are changing fast with new housing and experiential offerings. We need plans to come to fruition to ensure that the town centre is properly prepared for the next 50 years.
“Reading’s Business Improvement District (BID) is key to that development, providing over £1.3 million of added value services to support the town centre economy every year. We need to work hard to ensure the BID endures beyond its current term to drive the viability of the town centre.
“‘The future depends on what you do now’ Gandhi once said. We have our long-term vision for Reading as a Smart and Sustainable City by 2050, and REDA will be refreshing the 2050 Vision next year to ensure that what we do now has the long-term impact we desire, realising new opportunities and setting new milestones for the next 10 years.
“2026 will be important for Reading in the here-and-now but it is even more important for our long-term sustainable growth.”
Simon Ruck, managing director for Oxford North, said: “We are truly excited about growing the Oxford North community at our wonderful innovation district in 2026. The year ahead will include our showcase opening of The Red Hall townhall and café, and our new fitted laboratories.
“We look forward to welcoming occupiers, including Mishcon de Reya. Our focus remains on creating the best-connected innovation district in Oxford, whilst carefully stitching Oxford North into the fabric of the wider community.
“This is about developing meaningful connections and a truly inclusive place, where innovation can flourish alongside the people and institutions that make Oxford such a remarkable city. It will be a very exciting year.”
Charles Butters, founding director for Sulgrave Advisors, strategic property advisor to Oxfordshire County Council, and Oxfordshire Developers Forum lead, said: “The last 12 months has seen real progress in Oxfordshire in bringing together key stakeholders from across the real estate and innovation ecosystems with the establishment of the Oxfordshire Developers Forum and Equinox.
“The strength of these groupings lies in collaboration and joined up dialogue around collective ambition to deliver growth and a better and more exciting future for Oxfordshire.
“These homegrown initiatives – facilitated by Oxfordshire County Council and the University of Oxford – have, in turn, been hugely supported by the Oxford Growth Commission which has shone a spotlight on Oxfordshire’s potential for growth and what needs to be done to deliver it.
“Oxfordshire faces an incredibly exciting period ahead and 2026 will be crucial to embedding the right structures with the right ambitions to deliver positive change.
“How to action and deliver the Oxford Growth Commission’s 47 recommendations in all of this will be key. Whilst the financial and occupier markets are challenging, we’ve got to remember that the power to influence and change Oxfordshire for the better and to create a place best positioned for growth lies in large part in our hands and through working together.
“My plea is that we all step up in 2026 to make this happen.”
Mark Slater, managing director for WWA, said: “At WWA, we would like to see legislation changes to release the shackles on development and perhaps the proposed NPPF changes are a hint of what is to come.
“A focus on increasing density in the right location and designating locations for specific types of housing are positive moves.
“However, the critical issue within the planning system is the time taken for applications of any significant scale to be determined.
“Any changes which help to speed up the process are welcome. Reducing the information required at the planning application stage would also enable more projects to progress from an initial sketch to a full planning application.
“Whilst planning is no doubt an issue, perhaps the bigger issue is the cost of construction and finance. Seeing further shifts in the economy to enable better viability on projects would be the single most beneficial action to shift the housing and development markets.
“Overall, we are entering 2026 with optimism that these changes will happen!”
Tom Fraser, head of office for Savills in Cambridge, said: “2025 has clearly been a challenging year for several reasons, but we did see quite significant resilience in some parts of the market which is encouraging.
“Having a late Budget didn’t help with confidence, but we’re now through the other side and are already witnessing a change for the better. The further reduction in the Bank of England base rate is also welcome and should help build further momentum as we start the new year.
“Looking slightly further ahead, greater support for first time buyers would provide a timely boost to the residential new build market – and certainly that’s something I would hope might be looked at by the Government in the Spring Budget.”
Philip Campbell, commercial director for Milton Park, said: “2025 has been a year of contrasts. Across the Golden Triangle, economic uncertainty has challenged investment confidence, but notwithstanding this, Oxfordshire’s innovation engine continues to show great promise.
“For us at Milton Park, the year started with the adoption of the refreshed Local Development Order, which simplifies planning to just 10 days and allows us to grow to 4.2 million sq ft.
“This was followed by the completion of Nebula, our R&D mid-tech scheme and the successful £376m financing with Barings and HSBC.
“Against that backdrop, we have welcomed more than 40 new occupiers in 2025, ranging from deep-tech and quantum pioneers to AI innovators, showing the need for high-quality, adaptable space.
“More recently, we were delighted to see Milton Park highlighted as a Growth Opportunity Area in Neale Coleman CBE’s recent Oxford(shire) Growth Commission interim report.
“It recognised us as a model for sustainable growth, referencing our focus on active travel routes, Enterprise Zone status and excellent transport connections.
“Looking ahead to the new year, we are excited about the imminent completion of our new Signal Yard amenity hub and welcoming the new operators to our ecosystem.
“We are also looking forward to continuing to collaborate closely with local partners, including the commission and the recently launched Equinox platform.
“We’d like to see 2026 become a year when Oxfordshire realises more of its great promise and boosts its position as a globally competitive innovation economy.”
Daniel Geoghegan, chief executive for Bicester Motion, said: “As we look ahead to 2026, I am confident in the power of collaboration across Oxfordshire.
“The recent publication of the Oxford Growth Commission’s interim report with its 47 recommendations supports the continued alignment of the private and public sectors which will be critical to unlocking place, infrastructure and long-term investment.
“At Bicester Motion, we are at the cutting edge and see daily how positive change can be brought about by the many bright minds of Oxfordshire, accelerating innovation, creating skilled jobs and pioneering sustainable growth.
“By working together – local authorities, national government, investors, industry and education – we can turn ambition into action, ensuring infrastructure keeps pace with opportunity.
“This partnership approach will enable us to nurture world-leading innovation, strengthen our economy and ensure this great county remains a global destination for talent, enterprise and ideas.”
David Bainbridge, planning director for Savills Oxford, said: “Planning for development and the natural environment has been a hot topic for debate for many years. This remains the case with changes to the planning system at the national level and devolution and reorganisation in local government in many locations.
“We must remain positive that change will bed-in swiftly and solidly, to help delivery of sustainable housing and employment development and provision of infrastructure, including biodiversity net gain and renewable sources of power.”
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