Housing is now the government's number one priority. Not
only has the Chancellor allocated £7.2bn towards the
construction of new homes (more funds than for any other key
national infrastructure), there's a clear focus on getting
those homes where they're needed most, which should include
London and the South East.
The Chancellor's specific measures for London include
providing new powers of devolution to the Mayor and the GLA housing
settlement of £3.15bn, which means 90,000 new affordable
homes in construction by 2020-21.
The average proportion of affordable housing in major developments
started to increase after Sadiq Khan's election in May. The
first five developments through the full GLA planning process since
May has included an average of 37% affordable housing. This
compares to the average proportion of affordable housing in the
final projects inherited from the previous administration of around
Today's housing settlement should help secure more
affordable housing in London, particularly on land currently owned
by the public sector, which often has to overcome complex
constraints to development, such as building close to key transport
links. It will also help that the new National Productivity
Investment Fund will stump up £1.7bn by 2020-21 to speed up
housebuilding on public sector land through partnerships with
private sector developers.
The Chancellor confirmed today a step change of ambition to
deliver a housing market for "sale and rent". There
continues to be positive recognition for the Build to Rent sector,
and its role in increasing the supply of professionally managed
homes for younger generations in London, who might otherwise need
to be accommodated in affordable housing.
The Housing White Paper to be published "in due
course" will propose more positive changes to deliver homes
and speed up the planning system. This will provide an opportunity
to address other thorny issues not covered by the Chancellor today,
such as the future of starter homes and the need for Build to Rent
investors to pay 3% stamp duty on second homes.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
The recent County Court decision in Camelot Property Management Limited (1) and Camelot Guardian Management Limited (2) v. Greg Roynon is an uncomfortable reminder to landowners of how easy it is to inadvertently grant a tenancy when only a licence was intended. The consequences of getting it wrong can be time consuming and costly.
It's now less than one year to go until the Energy
Efficiency (Private Rented Property) (England and Wales)
Regulations 2015, commonly known as the MEES Regulations (minimum
energy efficiency standards) come into effect.
It's now less than one year to go until the Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015, commonly known as the MEES Regulations (minimum energy efficiency standards) come into effect. It
The use of letters of intent can be fraught with difficulty. In this Insight we review the key case law on letters of intent of the past few years and seek to highlight some of the lessons that can be learned from them.
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).