Shadow Chancellor reveals review of the London Plan to speed up delivery of new homes

Revealing the plans on the latest episode of Winkworth’s Property Exchange podcast, Mel Stride said: “We are looking at the London Plan with a focus on brownfield sites. We need to make building in London -  planning and  land availability - as quick and efficient as possible. The Shadow Housing team is looking at this. We need to get homes built. Most people do understand the need for new homes. We need to build more efficiently  and in a way that doesn’t trample over the Green Belt or in places without proper infrastructure. The answer could be new towns if done well. Look at Poundbury in Dorset. It’s been hugely successful.”

Winkworth’s Chief Executive Dominic Agace warned that the economics “don’t currently stack up for housebuilders.”  He told the podcast: “ The Government talks about getting smaller housebuilders to build but the economics are not there for them – with  the increased cost of finance and no replacement for Help to Buy.”

The Shadow Chancellor  added that he felt that there had been a struggle around home ownership. He said: “When I left university I set up businesses. Taxation was beneficial. We are looking at a move to higher paid jobs and owning shares. An entrepreneurial society gets celebrated. We want to get back to that. Property has been lost in that story.”

On the Renters’ Rights Act, Mel Stride told the podcast: “It’s just making it less attractive to be a landlord. With fewer landlords in the market there will be upward pressure on rents.  We are looking at the legislation and we are working on policies on this. You want to make it as inexpensive to come in and out of the market, making it more efficient for the economy – and get rid of red tape.”