Propertymark has repeatedly urged governments across the UK to adopt long-term, predictable housing strategies. Our positions highlight the need for greater supply across all tenures, investment in brownfield regeneration, stable, long-term planning frameworks, and stronger local capacity to deliver homes.
Devolved approaches can help unlock supply if they are properly resourced and designed to encourage investment. We will continue to press the UK Government and local leaders to prioritise housing delivery that supports both sales and lettings markets, recognises the importance of private landlords in meeting demand, and ensures that regulatory and tax frameworks encourage investment.
What has been announced?
New devolution deals have been confirmed for Greater Lincolnshire, Hull and East Yorkshire, North Yorkshire and York, East Midlands, and Norfolk, including multi-year investment funding and new freedoms to make planning and housing decisions locally.
A key commitment across the deals is to:
- Release more land for housing, including brownfield sites
- Support town centre regeneration
- Use devolved budgets to increase delivery of affordable and market homes
- Align skills, transport, and housing strategies to support long-term growth
The new Mayors for these areas will take office following the next election cycle and will begin setting out detailed investment plans. The UK Government states that stable, 30-year funding settlements will give local leaders the certainty they need to plan major infrastructure and regeneration programmes.
What does this mean for the property sector?
Mayoral authorities will gain stronger levers to tackle stalled sites and bring forward new housing. This includes the power to direct investment to priority growth areas and regenerate derelict or underused sites. For agents, this could increase development activity in areas where progress has historically been slow.
Improved high streets, better transport connectivity, and new employment opportunities are likely to help stimulate local housing markets. Long-term regeneration can increase the attractiveness of town and city-centre living, boosting buyer and tenant demand.
Propertymark has consistently highlighted the supply crisis across both sales and lettings. Long-term funding deals that commit to bringing forward new homes are a positive step.
