To address the current problems in the housing market by making the relatively small changes necessary to increase housing stock and property mobility.
To revamp the current planning permission system to reduce the time needed to start building and reduce incentives to hoard rather than build on land.
We will implement a new program to further assist those trying to gain a first foothold on the housing ladder, and those wanting to downsize or move to retirement housing later in life. The program will work along housing association lines, revamped for this purpose.
Return stamp duty to its original purpose, to cover the costs of the land registry, to facilitate market mobility for those wishing to upsize, downsize or move to a different area of the country.
Increase the ratio of affordable homes required on any development of more than 5 homes. The affordable homes will not have to be interspersed with more expensive homes but must be geographically close.
The housing market continues to be increasingly inaccessible to first time buyers, due to insufficient stock and the high cost of moving home to either accommodate a growing family or downsize in later years.
Click here if you would like to receive newsletters from Sovereign.