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Property Reforms Announced In Queen’s Speech

Reforms to renting, leasehold and property have been announced in a speech from the Queen of England that sets out the government’s policies for the next few years.

The Queen’s Speech dedicated a paragraph to what Her Majesty’s Government will do to help people who either rent or to help them buy their own home, which were divided into three separate bills that focused on planning regulations, leaseholds and renters.

These policies come as a reaction to the exceptionally strong housing market over the past year, which has seen Hackney estate agents sell property for an average price of over a million pounds.

Planning Bill

The Planning Bill aims to create a simpler planning system to replace the previous system created back in 1947.

It aims to significantly shorten the planning phase and allow developments to be approved faster, replaces affordable housing systems with a more transparent levy and helps to boost engagement and understanding of local planning systems.

This is set to take the form of a digital planning service and will allow land designated for new homes, schools and hospitals to automatically get permission to develop.

Leasehold Reform

A bill was also brought in to tackle the issue of ground rents for people who own a new long lease on a property do not have to pay a financial price for no tangible reason.

However, this does not include people who already own a leasehold property, and it is unclear how quickly this reform will enter law.

Renting Reform

The speech mentioned helping people who are renting, although this does not reference a specific bill. It is believed, however, to relate to tenancy law reforms and proposals to abolish Section 21 evictions.