Property sector gives its views to the new PM, Liz Truss

Property sector gives its views to the new PM, Liz Truss

10:07 AM, 6th September 2022, About 3 weeks ago 10

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After weeks of campaigning, Liz Truss is the country’s new Prime Minister – and the property industry has already reacted with views on what she should do to help.

While Ms Truss has made clear that she wants to cut taxes, she also said during her campaign that she wanted to simplify the planning process and build on brownfield sites.

She will be busy tackling her in tray over the coming days and weeks but leading figures in the property sector have said:

National Residential Landlords Association: Ben Beadle, the NRLA’s chief executive, said: “The last six years prove that it was a nonsense to think that cutting the supply of rental housing when demand is so strong would make it easier for those saving for a home of their own. Driving rents up just leaves tenants with less cash to save for a deposit. We need a strong and vibrant private rental market that meets the needs of those who rely on the flexibility it provides, those who need somewhere to live before becoming homeowners and those for whom the promise of social housing tomorrow provides cold comfort today. The next administration needs to reset its plans for the sector.”

British Property Federation: Melanie Leech, the chief executive, said: “We urgently need strong Government leadership after a period of drift. The new Prime Minister must address the immediate cost pressures facing businesses and families, but in parallel, there must a clear focus on the longer-term objectives to tackle inequalities across the UK and transition to a greener, high-productivity economy. We look forward to working with Ms Truss to harness the power and potential of the property sector to deliver the homes, work and leisure spaces that will revitalise our town and city centres and underpin our future prosperity as a nation.”

Walter Cooper: Simon Cox, the managing director of the real estate firm, said: “When it comes to housing, resolving the issues in planning needs to be one of the top items on the next PM’s agenda, and that will mean making some unpopular decisions. Truss now needs to shift her focus from pandering to the NIMBY masses. The fact of the matter is, as prices continue to rise due to a lack of supply, something needs to be done to increase the number of houses built in this country before home ownership becomes further out of reach for all but a select few.”

Propertymark: Nathan Emerson, the chief executive, said: “We congratulate Liz Truss on her successful election campaign and urge her to work with property professionals to find solutions to these major issues facing the sector. The spiralling cost of household gas and electricity bills has put the energy efficiency of our existing housing stock into sharp focus. With unilateral EPC rating targets looming, there is currently no long-term plan that sets out how they will be achieved. Propertymark is a strong advocate of making homes more energy efficient as the best solution to bringing down bills. However, it is unlikely that significant progress can be made until Ministers better understand the current housing stock and then apply realistic targets based on properties’ individual characteristics with sustained funding for homeowners. Our latest market insight reports show for every rental property available there are an average of 11 applicants, while home buyers are outnumbering sellers by seven to one. This is creating affordability issues, particularly in the private rented sector. We believe that gap can be closed through measures that bring the many tens of thousands of long-term empty properties back and the introduction of focussed targets for new homes that are based on an identified need for each tenure across the country.”



Comments

Martin Thomas

10:52 AM, 6th September 2022, About 3 weeks ago

One of the additional pressures on housing is the total inability of this government to get any sort of grip on immigration. Over the past 10 years, there has been net migration inwards of around 3.5 million people. That's 350,000 people from abroad coming here every year - the equivalent of a city the size of Nottingham. And these are the ones the government has agreed can come in!
So we would need to concrete over our land and build around 100,000 houses EVERY year just to keep pace with net migration.
What on earth can all these people be doing?
If all these people are coming here, why are employers constantly saying they can't find enough staff?

Mark Butler

11:16 AM, 6th September 2022, About 3 weeks ago

Reply to the comment left by Martin Thomas at 06/09/2022 - 10:52
The issue with immigration is that its the foreign policies of western nations like ourselves and USA etc that create the majority of the immigration issues anyway.
Look at how we illegally invade and destroy the infrastructures of countries like afghanistan etc.
No exit strategy means that the local populations are left to pick up the pieces or even worse are left with regimes like the Taliban in place. Can you blame anyone for trying to leave that regime? Obviously many thousands choose to leave for the west.
I am ex military with 22 years service under my cap and I have seen this happening first hand.
Look at our climate change record. How many reading this own a Range Rover for example or other gas guzzling nonsense car, how many own a house far bigger than they need guzzling energy. Even today we have individuals who are so self entitled and ignorant that they think purchasing a 4 litre diesel SUV is OK - I mean REALLY!!!??. Who suffers? again its others, look at Pakistan drowning right now, Bangladesh is even worse.
Where will all these people go? Yeah you guessed it and the doors will have to be open, because we are all human.

Martin Thomas

11:20 AM, 6th September 2022, About 3 weeks ago

Reply to the comment left by Mark Butler at 06/09/2022 - 11:16
The invasion of Afghanistan wasn't illegal.
Russia backs up Assad's awful regime and that caused an exodus of millions.
The west isn't all bad and I would argue, is better than most other despotic regimes - otherwise why would the world want to come here?

Darren Peters

12:20 PM, 6th September 2022, About 3 weeks ago

Reply to the comment left by Mark Butler at 06/09/2022 - 11:16
I didn't realise we had invaded Albania where most of our boat people are coming from at the moment.

As for SUVs, why not look a step higher at private jet usage which causes a massive proportion of aviation pollution. Strangely it isn't taxed as much as your typical holiday flight. For some reason though whenever there's a climate conference for Prince Charles, Bono and the rest of the pontificators' to consume the best of everything, private jets seem to be the transport of choice. Strange they can't give their pious lectures on global warming via Zoom

Blodwyn

15:48 PM, 6th September 2022, About 3 weeks ago

It would help if immigrants were allowed to work and then (presumably!) pay tax whilst waiting for ever to be 'allowed' in?
Has there been any application of the points test to assess if any of these boat or other entrants have a useful skillset?

Ian Narbeth View Profile

17:53 PM, 6th September 2022, About 3 weeks ago

She should:
scrap the Renters Reform Bill
appoint a Housing Minister who will be in post for more than 12 months
instruct him to listen to landlords as well as tenants
review and abolish section 24 of the Finance Act
stop trying to micro-manage property

DSR

19:38 PM, 6th September 2022, About 3 weeks ago

Reply to the comment left by Ian Narbeth at 06/09/2022 - 17:53
she's on record for saying she's not in favour of intervention where its not needed and herself as on the planning board in her early days said of this ' that's time I wont be getting back'....
it is arguable that 'true ' conservatism is actually leaving things to market forces. Lets hope she and whichever dope gets the Housing role, takes this in its literal sense....

JB

21:03 PM, 6th September 2022, About 3 weeks ago

I expect we'll have a Labour government in 2 years time - that will be scary!

Mick Roberts View Profile

12:42 PM, 7th September 2022, About 3 weeks ago

Reply to the comment left by Mark Butler at 06/09/2022 - 11:16
I'm sorry, me & missus got a Range Rover each. Mine's a 5.0 V8.
And we got 8 bathrooms & there is only 2 of us. I do apologise.
Although we do have solar power & rainwater harvesting for the toilets.

But yes u right, we do need to get on top of things. We need quicker solutions from those above.

Mick Roberts View Profile

12:43 PM, 7th September 2022, About 3 weeks ago

Reply to the comment left by Ian Narbeth at 06/09/2022 - 17:53
Very true Ian:
instruct him to listen to landlords as well as tenants

But will she listen?

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