Successive governments need to stop reinventing housing policy and agree on long-term reforms that survive changes in political leadership, according to property expert Jonathan Rolande.
Rolande (main picture) argues that repeated changes to taxation, planning and regulation have failed to address some of the fundamental problems facing the housing market.
Instead of another change of direction, he wants politicians to focus on five areas: policy stability, reducing the cost of moving, planning reform, encouraging downsizing and maintaining a viable private rented sector.
He says housing decisions are inherently long-term and should not be dictated by political cycles.
STOP TINKERING
Rolande says constant changes to property taxation, planning rules and rental regulation make it more difficult for homeowners, landlords and developers to make long-term decisions.
“We need a deal on the basics that outlives a parliament. Argue about the finer details. Leave the direction alone.”
GET PEOPLE MOVING
Stamp duty is another target, with Rolande arguing that the cost of moving can discourage transactions and reduce liquidity in the housing market.
“Cut Stamp Duty for people moving home.”
FIX PLANNING
Rather than concentrating on headline housebuilding targets, Rolande says government needs to ensure the planning system has sufficient resources to deliver new homes.
“Planning departments need money and staff. The rules need to be clearer and the decisions quicker. Developers should not sit on land for years. Councils should not take years to make up their minds.”
MAKE DOWNSIZING PAY
Providing more suitable homes for older buyers and reducing the transaction costs associated with moving could also release larger properties back onto the market, according to Rolande.
“Build good homes for older buyers. Cut the tax on moving. Give people a reason to hand back a house they no longer need.”
BACK GOOD LANDLORDS
Rolande’s final priority is the private rented sector, where he warns against reforms that encourage responsible landlords to leave and further restrict rental supply.
“Squeezing out the good landlords helps nobody. It cuts supply and pushes rents up.”
He says the five proposals should not be viewed through a party-political lens.
“None of these five belongs to the Left or the Right, which is rather the point. Housing runs on a twenty-year clock and we govern it on a five-year one.
“The property market is integral to the British economy and our way of life. Politicians need to agree with each other and rescue it.”
