To ask His Majesty's Government what steps they are taking (1) to promote housing affordability and stability for renters, and (2) to support first-time buyers.
Answered on
7 March 2024
This Government is committed to delivering a better deal for renters, improving the private rented sector for responsible tenants and good landlords.
The Renters (Reform) Bill was introduced in Parliament on 17 May 2023 and will deliver the government’s commitments. The Bill increases security of tenure for tenants by abolishing section 21 evictions. The new tenancy system will also reassure tenants that, apart from in specific circumstances set out in legislation, their rented home is theirs for as long as they want.
We continue to work towards our ambition of delivering 300,000 homes per year to help create a more sustainable and affordable housing market. Individuals who need help to make rent payments may be eligible for financial support through the welfare system. From April 2024, we will invest £1.2 billion restoring Local Housing Allowance (LHA) rates to the 30th percentile of local market rents. For others who face a shortfall, Discretionary Housing Payments are available from local authorities; the Government has provided almost £1.7 billion of this funding to local authorities since 2011.