VALUATION

Two new faces in charge of property

 Will a change of personnel within the Conservative party affect the immediate property market?

While it is pertinent to share news about The Fairer Private Rented Sector White Paper, our Prime Minister resigned less than three weeks after the Government released the definitive document.

 

The sudden departure – and the ensuing change of leadership – has set tongues wagging about proposed changes to the private rental sector and the wider property industry. In his final hours, Boris Johnson witnessed the resignation of Housing Minister Stuart Andrew and he sacked the incumbent head of the Department for Levelling Up, Housing and Communities (DLUHC), Michael Gove. MP Greg Clark was quickly installed as the new DLUHC leader, while the new housing minister was announced as Marcus Jones.

 

What does yet another Government reshuffle mean for buyers, sellers, tenants and landlords in London? The industry expects its trade bodies and associations, including Propertymark and the Home Builders’ Federation,  to put pressure on Greg Clark to re-examine recent decisions and reset house building targets.

 

The implementation of The Fairer Private Rented Sector White Paper may also be delayed. The document was led by outgoing Michael Gove, with support from Boris Johnson, and it’s not known yet whether Greg Clark shares the same views as his predecessor.

 

Aspire doesn’t expect any immediate changes to the way the property sector is governed, especially as the UK parliament is very close to its summer recess. Instead, it’s firmly a case of ‘business as usual’, so get in touch if you’re ready to progress your selling or letting plans. We’ll monitor the situation and bring you updates as they happen.