Policy Light

by Property 118

9:40 AM, 1st October 2019
About A year ago

Policy Light

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Policy Light

The Secretary of State for Housing, Communities and Local Government, Robert Jenrick has given his speech to the Conservative Party Conference titled “Homes Fit for the Future.”

The speech was very light on policy and devoid of mentioning the PRS so I will pull out what I can of interest to the housing market that wasn’t simply political attacks on the opposition.

Click here to view the full speech:

“I believe in ownership as the bulwark of individual freedom, bringing security, dignity and independence. So I will redouble our efforts.

“Since 2010 we’ve delivered over 1.3 million new homes. Last year we delivered the highest number bar one year in my adult lifetime

“And we’ve cut stamp duty for 95% of first-time buyers. But we’ve got much more to do.

“Firstly, we’re going to find more routes to homeownership.

“To overcome the barrier of raising enough money for a deposit, I’ve already simplified the shared ownership option.

“Today I’m going further, working with housing associations to give as many of their 2.6 million tenants as possible the right to shared ownership of their home – starting with all new properties.

“Secondly, we’re reforming our outdated, contradictory planning system, which is holding us back.

“So I will simplify the system.

“I’m announcing new freedoms, including to build upward so that your home can grow as your family does too.” (referring to plans allowing two story extensions without requiring planning permission)

“Reducing conditions, speeding up consent. Better funded local planning in return for efficient service. The beginning of a planning revolution.

“Thirdly, no new home will be built in the country from 2025 without low carbon heating and the highest levels of energy efficiency.

“We want better homes – and a better planet to match.

“And fourthly, these new homes must be well-designed, safe, and rooted in places to which people can belong.

“I am announcing the first national design guide and asking every community to produce their own. Empowering people to make sure that development works for them, in keeping with the local heritage and vernacular, with each new street lined with trees.

“So, under the Conservatives, more environmentally-friendly homes, more beautiful homes, faster and simpler planning, and a leg up on to the property ladder.”


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Comments

The Forever Tenant

10:19 AM, 1st October 2019
About A year ago

That policy about providing what appears to be "Right to Buy lite" for housing associations feels like a trial run for the Labour policy of Right to buy your PRS home.

Its really getting to the point where I don't actually see a lot of difference between the parties anymore. Each is stealing the others policies in order to woo as many voters as they can.

Whiteskifreak Surrey

11:41 AM, 1st October 2019
About A year ago

A fantasy list of wishful thinking and undeliverable policies, aimed at getting votes in the upcoming election.
I would not hold breath for anything really, S24 never appeared on any Tories' manifesto and then... Same with S21.
IMHO It is clear that ownership (and associated debt) is a main goal. Don't forget, the society in debt is much easier to control and manipulate.

Hedley

13:47 PM, 1st October 2019
About A year ago

Although I am a landlord, I have never agreed with the right to buy. It depletes the social housing stock, whether that be Local Authority or Housing Association and leaves councils with inadequate funds to replace it (assuming they were allowed to keep the proceeds). It is merely a vote catching ill advised policy and should be scrapped.
However, when it comes to the PRS, as long as it is up to the landlord as to whether it should sell, that there is no compulsion and that there are shared incentives (eg. CGT relief) I consider this to be sensible.

Old Mrs Landlord

8:19 AM, 2nd October 2019
About A year ago

Reply to the comment left by Hedley at 01/10/2019 - 13:47
Surely the whole point of John McDonald's scheme for PRS RTB is that it has to be compulsory and also give tenants a discount? The tenant already has as much right as anyone else to buy if the landlord wants to sell, but in most cases can't afford to or doesn't want to. Labour says a "fair" price would be agreed, by which they mean a lower than market price. So, either the taxpayer contributes a subsidy, as with social housing RTB, or the landlord is robbed. This suggested PRS RTB would therefore do exactly the same for landlords as you point out RTB of council properties has done - deplete the rental stock and leave the landlord with insufficient funds to replace it. If the landlord needs the rental income, for instance to supplement an inadequate pension, he is not in a position to replace income lost. Tenants are "the many"; landlords are "the few" and will lose out.


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