The property crisis must be “front and centre” of the Government’s election campaign, says the National Association of Property Buyers (NAPB), emphasising that resolving the housing shortage is “vitally important to future generations.”
“With many political journalists predicting we’ll go to the polls in October 2024, it’s clear Rishi Sunak faces a mammoth task ahead,” said spokesman Jonathan Rolande. “There has been a lack of time and focus spent on housing and property policies.”
Rolande criticised the Government’s approach towards landlords. “Landlords have been relentlessly bashed by this Government as if this will win votes or somehow rebalance the housing market. It may do the former. It won’t do the latter,” he said.
He outlined a multi-pronged strategy for addressing the crisis. “Tax incentives to insulate and improve heating would be a good start,” Rolande suggested. He also urged more favourable tax treatments for landlords offering long-term lets and an extension of the forbearance deal with banks to prevent a surge in repossessions next year.
On the topic of new construction, Rolande encouraged local councils to use the downturn in construction as an opportunity to build homes on disused brownfield sites. “Homes in town centres are practical and greener,” he added.
Rolande closed with a call for the Prime Minister to eliminate stamp duty for downsizers, especially those who are retired. “The price of failure is far higher,” he warned.
