Politicians meeting at party conferences this week are being urged to listen to property professionals before setting policies about the private rental sector.
Neil Cobbold, managing director of PropTech service PayProp UK, says: “Housing finds itself higher up the political agenda than it has been for many years, and the private rented sector in particular has been a focus of reform.
“One of the biggest issues facing the entire market is a huge shortage of supply. Not nearly enough homes are being built and the cost of living crisis and interest rate rises have pushed property prices down, making developers reconsider the profitability of building new homes.
“Politicians from all parties know there are challenges across the sector – but we’re calling on them to listen to what the property professionals – the acknowledged experts – have to say before making manifestos.”
Cobbold, who is attending both this week’s Tory conference and next week’s Labour gathering, continues: “Over the past year we’ve seen legislation in the form of the Renters’ Reform Bill finally being introduced, but it lacks the necessary detail to fully inform and equip the industry for the future.
“Even more worrying, it was introduced in May and we have yet to see it get its second reading – there’s been no visible progress for four months.”
Last week, just after Parliament rose for the conference season, the government scrapped plans to introduce tougher minimum energy efficiency standards for all privately rented homes by 2028.
“This last-minute change penalises the investors who plan ahead to, literally, get their house in order. Decisions like this encourage the industry as a whole to leave everything until the last minute just in case the government changes its mind” Cobbold claims.
“It is vitally important that legislators draw on the experience of industry professionals and provide reassurance and sufficient detail on housing reform. Without a stable market and well thought-out reforms, it’s difficult for landlords and property professionals to invest in the future of the private rented sector if the laws that govern it are subject to such rapid change.”
Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions.
If any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals, then the post may be deleted and the individual immediately banned from posting in future.
Please help us by reporting comments you consider to be unduly offensive so we can review and take action if necessary. Thank you.
/Rishi%20Sunak%2003_400x310.png)
.jpg)
%20(002).png)
.png)
Join the conversation
Jump to latest comment and add your reply
Listen to people who know what they’re talking about before making policy 🧐🤔 it will never happen….. because it hasn’t up to now 🤬
Politicians listening to experts....next week how to nail jelly to the ceiling and how to build deep sea camp fires.
Very funny 😁 Even more so if it wasn't so true
All of them from either side are about a s reliable as Cramp!
One minute a minister is in charge of the nhs, and the next minute in charge of defence. Just shows what a public school education can do for you.
NO TRAINING NEEDED.
"Not so much what you know but who you know"
Please login to comment