Queens Speech disappointing from property perspective - Urban Exposure

Queens Speech disappointing from property perspective

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Randeesh Sandhu, CEO comments on today’s Queens speech:

“Almost two weeks on from the dawn of an unexpected hung Parliament, we are still not much clearer on the political landscape at Westminster or the impact this will have on the UK economy. Nonetheless, today’s Queen’s Speech shows how the minority Government’s policy agenda has been altered by the outcome of the General Election and recent terror events, with the delivery of Brexit clearly at the forefront.

“From a property perspective it was disappointing to see a lack of policy directly addressing the sector. There are still a number of hurdles holding ambitious builders back and we would like to see the Government commit to addressing these, including helping smaller developers access public land and appropriate finance.

“The market remains in good shape fundamentally, with the UK still not building enough homes to meet growing demand and the Bank of England Governor clearly signalling yesterday that interest rates will remain lower for longer. However, we believe it is essential that further steps are taken by the Government, in partnership with local authorities and the finance community, to deliver the new homes the UK needs.”