Queens Speech lays out key forward looking UK property reforms

Created: 17 May 2022

The Queen’s speech, delivered by Prince Charles last week, unveiled a series of legislative Bills that are set to directly impact the UK property market. These reforms are designed to strengthen the economy, reduce the cost of living, as well as enhance safety and quality standards for the property sector.

In the rental sector, a reform Bill was introduced repealing section 21 of the Housing Act 1998, enhancing tenant security of tenure by ending ‘no-fault’ evictions. Landlord rights were strengthened by the introduction of a new ombudsman for private landlords. This will help resolve disputes out of court, as well as heighten landlord’s right of possession through reduced notice periods for anti-social behaviour or repeated incidences of rental arrears.

The government demonstrated its ongoing commitment to the Net Zero 2050 carbon emissions target with an energy Bill that prioritises energy efficiency as well as the electrification of infrastructure such as the transition from boilers towards heat pumps. As it stands, new homes will be required to reduce emissions by 30 per cent from 15th June 2022 as a result of new building regulations that are now in effect.

The levelling up and regeneration Bill builds on the levelling up white paper, delivered earlier in the year, fortifying local resident powers to determine new buildings in their areas as well as forcing shops to submit to a rental auction process if left empty for over a year. As well as seeking to revitalise the high street, this also aims to enhance localised investment in infrastructure through community set levies.

These forward looking Bills were complemented by further social housing and leasehold reforms supporting higher quality, safety, and housing standards. Expected announcements regarding planning rules and second homes reform were not forthcoming as yet.

“The first piece of legislation, the Leasehold Reform (Ground Rent) Bill, gained royal assent on 8 February 2022. The act sets future ground rents to zero, and, when in force, will apply only to new lease agreements.”

https://lordslibrary.parliament.uk/queens-speech-2022-levelling-up-housing-and-communities/

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