Property professionals have called for cross-party support and stability when it comes to housing policy under the new Labour Government after the new Cabinet and ministerial team was confirmed.
Prime Minister Sir Keir Starmer’s top team includes Chancellor Rachel Reeves and Deputy Prime Minister and Housing Secretary Angela Rayner.
Both will be involved in setting key policies that could affect agents such as stamp duty and other tax rates as well as rental reform and potential agency regulation.
Matthew Pennycook has been confirmed as Housing Minister, a role he shadowed in opposition.
He had tried to get the Regulation of Property Agents (ROPA) report implemented through leasehold legislation but his amendments were rejected.
Commenting on his appointment, Pennycook said: "Tackling the housing crisis and boosting economic growth is integral to national renewal. Time to get to work."
If you are keeping count under this government, Pennycook is the first housing minister and it is hoped that the role will not have as many changes under Labour.
Nathan Emerson, chief executive of Propertymark, welcomed the appointments, adding: “It is essential housing plays a key priority moving forward, as we have witnessed many decades of housing demand drastically outstrip supply.
“Currently we have a situation that feels like it’s on a knifes edge, especially with a population that is predicted to grow to around 70m within the next ten years. There must be critical cross-party conversation that sets a clear strategy moving forwards, and for this to happen, we need broad stakeholder involvement, wide ranging infrastructure development and all involved must look to the better use of technology for both insight and ongoing delivery.”
Kate Faulkner OBE, chair of the Home Buying and Selling Group, said: “We need a commitment that those who work in housing, from ministers to civil servants, will remain in their posts for a minimum of five years. Chopping and changing those ‘in charge’ is a key reason why the housing crisis has not been addressed as much as it could have been.
“New housing teams would really benefit from reading the Nationwide Foundation ‘Homes for All’ paper. The recommendations outlined in this document offer a long-term solution to tackle housing problems, which can only be achieved by enlisting cross-party and industry support.
“For an easy win within the first 100 days, the Government could support the implementation of the key recommendations of the Home Buying and Selling Council. “We offer a cross section of easy fix solutions which would immediately improve buying and selling a home, while others will revolutionise the process for everyone over the next five years.
“Finally, I would like to see MPs, of all parties, tasked with submitting a plan on how they will work with their local public and private housing and land providers. Critical is how to house those in temporary accommodation within their constituencies and how we can deliver more social homes to reduce local housing waiting lists by releasing land
and funding. This alone will unlock over one million homes back into the private sector, helping first time buyers onto the property ladder and alleviating supply issues for those renting privately.”