Housing and Planning Bill gains royal assent
The Housing and Planning Bill gained royal assent in May, and has since changed its name to the Housing and Planning Act. The act introduces a range of changes to the planning system, including a requirement that 20% of new housing is allocated as starter homes for first time buyers.
The government is hopeful that gaining royal assent will kick-start a national crusade to build one million homes by 2020. There is still widespread doubt that this will be achieved by the proposed date.
Melanie Leech, chief executive of the British Property Federation, said: “The development industry has been waiting almost a year to find out how the starter home initiative will work in practice, and it is good that we now have clarity. The fact that the regulations are still yet to be laid casts doubt as to whether the government will be able to achieve its promise of 200,000 homes by 2020. Spades are not likely to be in the ground until 2017 at the earliest, and time is certainly running out.”