Matthew Pennycook appointed as Labour’s Housing Minister

Reply to the comment left by Dylan Morris at 08/07/2024 – 11:45
You already need to go to Court.

Making life difficult for landlords does nothing to ease the population crisis (aka housing crisis).

Reply to the comment left by Dylan Morris at 08/07/2024 – 11:24
Yes, with an HMO that would probably be your only option. Thus greatly restricting your pool of buyers.

Yes, with an HMO that would probably be your only option. Thus greatly restricting your pool of buyers.

He will CRASH THE PRS ECONOMY. As house prices are on the way up and interest rates coming down soon so will be a good market for LLs to sell after their S21 issued.
HOWEVER, Reeves will in Sept Budget raise CGT to over 50% (its 66% in Canada as of June 2024) to prevent the CRASH of LL sellers.
If they have no clue about supply and demand in PRS what hope have we got they understand other dynamics in a FREE CAPITAL MARKET?!

Farage, like him or loathe him, is the only who will spot this a mile off and create havoc for Labour. And rightly so to call them out

The Prime Minister says he wants to tread gently to deliver a government guided by policy, pragmatism and ‘service’, rather than ideology.

Let’s hope he will remind Mathew Pennycock this is the guiding policy and ask him to remove his bover boots to avoid stomping on those ordinary working people helping address the housing crisis.

With Angela Rayner stepping up as Housing Secretary and deputy leader, it seems like Labour is shaking things up. Pennycook had tried to push a rule to stop landlords from selling properties for two years after a tenancy starts, which shows he’s got some strong ideas about protecting renters.

He’s talking about tackling the housing crisis and boosting economic growth, which sounds great on paper. Nathan Emerson from Propertymark seems pretty optimistic too, highlighting the need for a long-term approach and massive planning to hit housing targets.

What’s interesting is that Labour is bringing in Nick Boles, a former Tory minister, to help with planning rules. They’re talking about mandatory home-building targets and building on green belt land, which could be controversial but might be necessary to meet housing demands.

Honestly, it sounds ambitious. If they can deliver on these promises, it could really make a dent in the housing crisis. But I wonder if they can pull it off without running into major roadblocks, especially with the green belt land issue. It’ll be worth keeping an eye on how this develops.

Reply to the comment left by Cider Drinker at 08/07/2024 – 12:57
Incorrect. You do not need to go to Court to issue a Section 21 notice.

Reply to the comment left by havens havens at 08/07/2024 – 14:40
Immigration under the Tories was running at well over 1 million a year. Labour have zero policies on immigration so we can expect this number to increase massively. Perhaps somewhere between 2 million and 3 million annually. Even building 300,000 properties a year isn’t going to be anywhere near enough especially when you factor in the huge birth rate increase from certain parts of the community.

Reply to the comment left by havens havens at 08/07/2024 – 14:40Boosting economic growth means simply increasing the size of the economy….increasing GDP. It isn’t measured as GDP per head of population. We will see an increase in GDP because the population will increase. That’s why the U.K. has a larger GDP than say Luxembourg. We simply have a larger population. It’s GDP per head that matters but of course they don’t want to measure that.

Could be interesting if you have to sell, IE property owner has died and beneficiaries need to sell to obtain probate. Bet they haven’t thought about that (this happened to a friend as he had to find over £20K inheritance tax which must be paid to HMRC before the probate could be settled)