Michael Gove unveils the governments “Levelling Up” White Paper, setting out a plan to transform the UK with 12 bold national missions that will shift government focus and resources to Britain’s forgotten communities. The housing market and private rental sector will see a dramatic reshaping through number 10. of their missions outlined below:
“10. By 2030, renters will have a secure path to ownership with the number of first-time buyers increasing in all areas; and the government’s ambition is for the number of non-decent rented homes to have fallen by 50%, with the biggest improvements in the lowest performing areas.”
Residential Housing Market
- The ’80/20′ rule which leads to 80% of government funding for housing supply being directed at ‘maximum affordability areas’ – in practice, London and South East – will be scrapped, with much of the £1.8 billion brownfield funding instead being diverted to transforming brownfield sites in the North and Midlands. The Metro Mayors will be allocated £120 million of this funding.
- Home ownership will be boosted due to a new £1.5 billion Levelling Up Home Building Fund being launches, which will provide loans to SMEs and support the UK government’s wider regeneration agenda in areas that a priority for levelling up.
Private Rental Sector
- The government will announce a plan for the first time ever, all homes in the Private Rented Sector will have to meet a minimum standard – the Decent Homes Standard.
- Section 21 ‘no fault’ evictions will further be abolished, ending the unfair situation where renters can be kicked out of their homes for no reason.
- We will consult on introducing a Landlords register, and will set out plans for a crackdown on rogue Landlords – making sure fines and bans stop repeat offenders leaving renters in terrible conditions.
- The government will give local authorities the power to require landlords of empty shops to fill them if they have been left vacant for too long.
Alongside these industry reforms, the government aims to improve public services, invoke regeneration projects on derelict urban sites and increase local prosperity growth. The government will further commit to building more genuinely affordable social housing. A new Social Housing Regulation Bill will deliver upon the commitments the government made following the Grenfell tragedy in 2017.
You can read the full Levelling Up White Paper announcement here.
– Industry Opinion
Stuart Bradley, Branch Manager of Belvoir Cambridge said:”Only time will tell before we can really understand how the Landlord Register and the abolishment of Section 21 will work. I think the Landlord Register is a seemingly good idea but I definitely need to see what the Section 21 replacement/substitute will be. I personally think the minimum standard, to be known as the Decent Homes Standard is a great move forward as long as it doesn’t remove masses of houses from the rental market which would be counter-active.”