Sir Keir Starmer now has a ‘golden opportunity’ to tackle Britain’s housing crisis, a leading expert says today.
Jonathan Rolande, from the National Association of Property Buyers, believes the super-majority the new Prime Minister now boasts can help rescue a whole generation left fearful they will never own their own home.
Rolande says: “The appalling state of housing cannot be swept under the carpet any longer. The average first time buyer is in their mid-30’s and if things continue as they have been, children today won’t be buying until they are in their 50’s, if ever.”
GOLDEN OPPORTUNITY
Jonathan RolandeHe adds: “For many young people who voted, the availability of housing was very high on their agenda.
“With such a large majority and an opposition who will now tear themselves into even smaller pieces as they struggle to regroup, Starmer now has a golden opportunity to drive through the planning and housing reforms relatively unopposed.”
Outlining the impact this will likely have across the sector, he adds: “This will cause some ripples in the property market. Buyers and especially investors do not like change.
“Predictability is key for landlords, house builders and developers and a lack of confidence is contagious, it soon affects homebuyers too.
“To re-balance the market I believe we shall soon see things that give us, in the business of buying, selling or letting homes plenty to complain about.
“Expect more regulation to protect tenants especially. It will stop short of rent capping, but only just.”
TURBO-CHARGED RENTERS (REFORM) BILL
“A turbo-charged Renters Reform Bill is likely to be the first thing we’ll see. Councils will be freed up to build more homes, creating competition that has been lacking in recent years. This may help to suppress prices and rents.
“Bold initiatives will shock the housing market and we may see adverse effects.
“But we should also see the positives. Good landlords will be rewarded, bad will be ones driven out. The same with good employers.
“As more homes become available and the pressure on prices and rents eases, younger colleagues will have a proper chance to buy or rent a decent home, put down roots and have something worth working for. Employing good people should become easier. The medicine is likely to be bitter, but its results will, I hope, be worth that temporary discomfort.”
