Will the White Paper work?
This week the government unveiled its plans to fix the ‘broken’ housing market when it launched its Housing White Paper.
Key to the government’s plans are, understandably, measures to increase supply. As we have said all along, the lack of properties for first-time buyers is not caused by ‘greedy landlords’ but simply by the fact we are not building enough houses. The government aims to tackle this by relaxing planning rules, helping smaller builders to get access to funding and freeing up more land. These are all sound measures and are welcomed.
For the lettings market there was calls for longer tenancies to be given to tenants in the PRS. I believe most good landlords (and the majority are good) already offer tenants this security but not everyone wants a longer tenancy. Choice, as always, is key.