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London Mayor ordered to take further action on housing plan
Rt Hon Michael Gove, MP, Secretary of State for Levelling Up, Housing and Communities, has demanded a partial review of the London Plan focusing on industrial land and opportunity areas in the capital, and wants the average rate of delivery to increase from 37,200 to more than 62,300 homes a year to tackle housing delivery backlogs.
New homes to boost progress to net zero
The UK Government’s detailed proposals for the 2025 Future Homes and Buildings Standards will amend existing legislation to set new minimum energy efficiency requirements for buildings in England. Most changes will apply to new homes and non-domestic buildings and should ensure no further work will be needed for new buildings to produce zero carbon emissions as the electricity grid decarbonises.
Spring Budget a missed opportunity to boost housing supply
The Chancellor of the Exchequer delivered his Spring Budget on 6 March 2024, likely to be the last before a General Election. Whilst a cut in Capital Gains Tax on property transactions will be welcomed, the sector will be disappointed that key measures, such as stamp duty breaks for last time buyers, increasing mortgage availability and a suspension of the 3% stamp duty land tax premium on buy-to-let purchases have been overlooked.
Fundamental interventions needed to correct housebuilding
The Competition and Markets Authority (CMA) has published a report on housebuilding and found the dominance of speculative private development paired with complex, unpredictable planning rules is the major cause of the long-term shortfall of new homes in the UK.