The Property Podcast with Wards Estate Agent

S02E08: How Our Government Could Do Better To Help The Housing Market Part One

Episode Summary

Welcome to episode 8 and the first part of a special two-part episode in Series 2 of The Property Podcast with Wards. Join host Garry Wilson and industry experts from Wards as they delve into actionable strategies for improving the UK housing market.

Episode Notes

THE PROPERTY PODCAST with WARDS ESTATE AGENT SERIES 2  

Episode 8 - How Our Government Could Do Better To Help The Housing Market: Part One 

Unlock the secrets to a balanced housing market in this episode of The Property Podcast with Wards!

Join Garry Wilson and his esteemed guests as they delve into the pressing issues affecting the UK housing sector. From political will and funding challenges to innovative solutions for first-time buyers, this episode is packed with expert insights. Discover what a 25-year cross-party property manifesto could look like and explore imaginative strategies to make homeownership attainable.

Key Discussion Points:

Long-Term Housing Strategy:

• Cross-Party Agreement: A call for a strategic plan spanning at least 25 years to ensure continuity beyond political cycles.
• Non-political Approach: Emphasising the importance of removing politics from long-term housing solutions.

Immediate Actions Needed:

• Funding Challenges: Exploring funding sources and mechanisms to support balanced and accessible housing markets.
• Developer Uncertainty: Addressing developers' hesitance due to unpredictable government policies.

Young Buyers & First-Time Homeownership:

• Affordability Crisis: Discussing barriers young people face entering the property ladder today compared to previous decades.
• Innovative Solutions Needed:
  • Government-backed deposit schemes similar to France’s bond system.
  • Expanding current home-buy programs beyond new builds.

Stamp Duty Reform:

• Simplification needed across all levels; potential abolition or reduction for downsizers or specific age groups like over-sixties/seventies.

Vacancy Taxes & Energy Efficiency Incentives:

• Introducing vacancy taxes on empty properties could incentivize repurposing them into affordable homes.

Industry Responsibility & Innovation:

• Encouraging brave thinking within the industry itself rather than relying solely on governmental action.

Additional Insights:

Energy Efficiency Integration: Link energy efficiency improvements directly with incentives such as reduced stamp duty rates or council tax discounts.

Zoning Laws & Red Tape Reduction: Advocate for relaxed zoning laws and reduced bureaucratic hurdles that inhibit development projects.

Closing Remarks

A collaboration between government initiatives and private sector innovation is a crucial driver in creating a sustainable future for UK housing. Tune in next week for Part 2 where we continue this compelling discussion!