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A proposed £150 million Warm Healthy Homes Fund would support energy-efficiency improvements for low-income households across Northern Ireland. We welcome the investment but have urged the Department for Communities to widen access so that inefficient rented homes and their tenants are not left behind.
The proportion of owner-occupiers has changed little over the past decade and remains below its 2003 peak, while high prices, large deposits, and a weak development pipeline continue to restrict access for first-time buyers and suppress mobility for those already on the property ladder. New planning rules may help, but government and industry evidence supports Propertymark’s position that wider reform is needed across housebuilding and the buying and selling process to restore adequate supply and revitalise the market.
Prime Minister Andy Burnham’s first days in office have brought several announcements and appointments with implications for the property sector. Angela Rayner has returned as Housing Secretary, rent controls have been ruled out for England, targeted business rates support has been announced, and Burnham has confirmed that Stamp Duty will not change at the Autumn Budget.
£35 million of new lending has been announced to unlock around 2,500 homes and regeneration projects in Salford, Bromley, and Ludlow. The Bank’s ability to offer flexible finance and work with a wide range of partners is welcome. However, its success must ultimately be judged by how quickly announced investment delivers completed homes of the types and tenures needed in each local market.