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TODAY'S OTHER NEWS

Home ownership policy promised as PM survives no-confidence vote

A significant housing announcement has been promised by Prime Minister Boris Johnson as a part of a sweetener that saw him survive a no-confidence vote.

The Prime Minister was informed over the Platinum Jubilee Bank Holiday Weekend that enough letters had been sent by Tory MPs to trigger a vote of no confidence against him.

The vote was held last night and Johnson narrowly avoided an ousting, with 211 voting for him and 148 against.

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He had spent the day shoring up support among MPs in private meetings, with some reports suggesting there could be a “plan for growth” next week.

It has also been reported by outlets such as The BBC and The Guardian that a housing-related announcement is on the cards.

He is reported to have told MPs: “If I am here later this week - and I very much hope that I will be - (Housing Secretary) Michael Gove and I will be setting out plans to kindle that dream of home ownership in the hearts of millions who currently believe it is beyond their means.”

There have been rumours of an expansion of the Right to Buy scheme to social housing tenants.

The property industry provided some instant reaction to the result of the vote last night.

Jeremy Leaf, a north London estate agent and a former RICS residential chairman, told Estate Agent Today: “What the property market needs more than anything is stability and confidence. Votes of this kind tend to generate the opposite.”

“Many decisions, particularly in terms of investment and development, require a longer-term view. If there is a change in leadership or government, then property players tend to sit on their hands.

“We are living in uncertain times which probably won’t change appreciably for a good while yet.”

  • Matt Faizey

    Whatever they come out with, it'll benefit house-builders. Furthermore, whatever they come out with will not address supply issues. Hence will continue in actuality to perpetuate the problems of the last 30years.

    It's no surprise this statement arrives just as H2B is ending.

    The cynical might predict it'll be something to safeguard house-builders against the inflationary pressures of materials scarcity and increases dressed up as help for buyers.

    Whatever it is let's see if it's market wide or restricted to new builds......

    Algarve  Investor

    It'll be about as successful as First Homes or whatever that scheme the government launched last year was called.

    In all likelihood it will be an extension of Right to Buy to try and be a Thatcher-esque vote-winner - another populist move from a leader and government who have run out of ideas and have no clear vision.

     
  • Richard Copus

    He won't be around for more than 4 months so anything he says doesn't really matter any more. People need roofs over their heads first and foremost not the right to buy somewhere they can't even find to live it. Maybe his successor might get the priorities right for once.

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