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Election 2024 - What's next for development?

Updated: Dec 10, 2024

With election season upon us, property developers are bracing for potential shifts in policies that could reshape the housing landscape. At our latest SEPDC session, we analyzed Labour’s proposed housing policies, reflecting on the challenges and opportunities they present. From ambitious housing targets to rental reforms, the discussion shed light on the future of property development.


Labour’s pledge to deliver 1.5 million homes over the next five years sparked considerable debate. While the target underscores the urgent need for affordable housing, concerns remain about the practicality of meeting such goals within the constraints of the existing planning system. Labour’s commitment to “grasping the nettle of planning reform” is promising, but the feasibility of delivering large-scale projects amidst current bottlenecks remains a significant hurdle. As highlighted in Rachel Reeves’ speech, proposals to reform the National Planning Policy Framework (NPPF) and support local authorities with 300 additional planning officers aim to address these challenges, but the road ahead will demand collaboration and innovative solutions.



 

The session also touched on other housing-related policies, such as the abolition of Section 21 ‘no-fault’ evictions, potential rent controls, and the implementation of Awaab’s Law, which mandates stricter timelines for addressing hazards in rental properties. These reforms aim to enhance tenant protection but may introduce additional complexities for landlords and developers. Short-term lets, leasehold reforms, and minimum EPC requirements for rentals also surfaced as topics of interest, leaving developers pondering how to adapt to the evolving landscape.




As always, discussions at SEPDC were lively and thought-provoking. Attendees explored strategies to mitigate potential risks, including diversifying investment portfolios, engaging with local planning authorities early, and leveraging new government incentives. The session reinforced the importance of staying proactive and informed as we navigate these uncertainties together.




While the future remains uncertain, one thing is clear: adaptability and preparation will be key for developers. As these policies take shape, SEPDC will continue to serve as a forum for sharing insights, strategies, and support.


What’s your perspective on these proposed reforms?


Share your thoughts in the comments or join us at the next SEPDC session to stay ahead of the curve.


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