19.12.19
Queen's Speech: Revolutionary changes to the housing market
New proposals for the housing sector have been unveiled as part of the Queen’s Speech today (Dec 19), promising fairer, more affordable homes for buyers and renters.
A better deal for renters has been outlined, with a new lifetime deposit, making moving home easier and cheaper for millions of people in the UK and allowing their deposit to move with them from property to property.
Plans to abolish ‘no-fault’ evictions have also been confirmed, protecting tenants from being evicted at short notice and without good reason.
The cost of new homes for local people and key workers in the area will also see a reduction of up to a third under the new government plans.
The government has committed to devolving power, with 37% of residents in England and almost 50% in the North, already served by city region mayors with powers and money to prioritise local issues, drive significant infrastructure projects and level up their areas.
Smaller cities, towns and counties in the UK will experience a levelling up thanks to the New English Devolution White Paper, which will unlock potential of regions countrywide.
Also announced was the biggest change to building safety laws for 40 years, ensuring the safety and concerns of its residents.
Welcoming the Speech, Housing Secretary Rt Hon Robert Jenrick MP said:
"The announcements made in the Queen's Speech today will empower both home-buyers and renters. The legislation that we will bring forward will provide a better deal for renters through our lifetime deposit scheme while also protecting them from no fault evictions. We will also help first-time buyers get a foot on the property market with 30% discounts for local people and key workers.
"We are moving forward with legislation to set ground rents to zero, abolish leasehold houses and prioritise the safety of residents with the biggest change to building safety laws for 40 years.
"I look forward to getting on with this ambitious and exciting agenda."