Here’s a political prediction that will surely pan out: by the end of July the UK will have a new prime minister. And that PM will have one mission – to get the UK out of Europe ASAP to arrest the slide of Tory party members heading for Nigel Farage’s embrace. That will require all hands to the pump.
It is notable that, just before the print edition of Mortgage Strategy went to press (sliding through your doors on Monday, if all goes well), communities secretary James Brokenshire announced a spate of changes aimed to fix the leasehold problem, including rules that all new-build houses would be sold as freehold and ground rents on new leases cut to zero. He also pledged to look at deposit passporting, enabling renters to move from property to property more easily. This almost looks like a bit of long-term thinking(!)
My question is: will a prime minister charged with just one aim have the capacity to even think about housing? Surely Johnson will be our next PM and, despite his talk of getting the housing market moving again via tax cuts – something he reiterated just today in the Telegraph – I fear that, when he finally sits behind the desk in No. 10, his almost-holy mission will push out of the picture all the rhetoric on boosting supply and making it easier to transact.
Meanwhile, it would be no surprise to see Brokenshire rotated into a new role, Kit Malthouse, current housing minister, rewarded for taking Boris’s place on the broadcasting rounds with a higher-profile position – and the continuity that has led to some progress ripped apart.
But how else can democracy function? Do contact us if you have any ideas.