"Yes, we are in the midst of a housing crisis. We know that not enough homes are being built. But the way to solve this is not to hope people just stop wanting to buy a home."
Yes, as Barwell concentrates on his new role as Theresa May’s chief of staff Sharma has stepped into the housing minister role as the sixth person to do so since 2010.
In the event that Mr Sharma remains in his position long enough to actually do something perhaps it would be an idea for the industry to outline what we would like to see. So in case you’re reading this Minister, here’s my tuppence worth.
Reform Stamp Duty
Buying a home is expensive. For first time buyers or second steppers Stamp Duty can be a huge stumbling block. For last time buyers who could potentially downsize and free up much needed family homes Stamp Duty is an unnecessary expense and a deterrent. Let’s do something about this. Scrap it for first timers and retirees. And cut it considerably for everybody in between.
Less talk more action
Consultations are good. They open up discussion. They allow opinions to be heard. But they are pointless if they don’t result in anything. The Housing White Paper released earlier this year outlined numerous areas that needed ‘reviewing’ from planning to affordable homes but little has come of it. Yes, we’ve had the small matter of the election since then but let’s get back on track and see some action now please.
Address leasehold issues
The leasehold system is currently seeing too many homeowners losing out. Leasehold houses are being sold on new build developments with buyers not fully understanding what this means. Ground rents are rising and houses are becoming difficult to sell. We need to make sure this area is addressed and the sooner the better.
Protect new build buyers
As we saw earlier in the year when Bovis announced it has set aside £7m to compensate buyers who had bought poorly built homes, there is a problem within the new built sector as a result of properties being rushed and, therefore, not finished correctly. Buyers must be given better protection in this area and the sector needs better regulation.
Rebuild the housing dream
Yes, we are in the midst of a housing crisis. We know that not enough homes are being built. But the way to solve this is not to hope people just stop wanting to buy a home. In the Housing White Paper there was a definite feeling that the government was trying to move the spotlight away from homeownership. Indeed, the Royal Institution of Chartered Surveyors said the paper saw the government “shift the rhetoric”. While it’s absolutely right that attention be given to the rental sector too let’s still encourage home ownership and do what we can to help people to realise that dream.
