Matthew Pennycook has been confirmed as Labour’s new Housing Minister, following Angela Rayner’s recent appointment as Housing Secretary and Deputy Leader on June 5.
Pennycook, who represents the Greenwich and Woolwich constituency, secured his position with a commanding majority, surpassing his closest competitor by 18,366 votes. Expressing his enthusiasm for his new role, Pennycook stated, “It is a real honour to have been appointed Minister of State at the Department of Levelling Up, Housing and Communities (DLUHC). Tackling the housing crisis and boosting economic growth is integral to national renewal. Time to get to work.”
The appointment has drawn positive reactions from key figures in the housing sector. Nathan Emerson, chief executive of Propertymark, welcomed Pennycook’s new role, emphasizing the critical importance of housing in the government’s agenda.
“Propertymark welcomes the appointment of Matthew Pennycook as Housing Minister within the newly formed cabinet. Housing must play a pivotal role for the government moving forward,” said Emerson. He highlighted the ambitious goal of delivering over 1,100 new homes every working day for the next five years, a task that will require meticulous planning and extensive collaboration with stakeholders.
Emerson stressed the need for a long-term, cross-party approach to housing, warning against the pitfalls of short-term planning. “There needs to be a long-term cross-party approach with continuity built in as standard – we should never be looking at a housing plan as an insular five-year government term, in case of any change down the line,” he advised.
Highlighting the urgency of the situation, Emerson noted the sector’s dire need for increased supply to match rising demand. He cautioned that any missteps could lead to soaring prices due to consumer desperation.
“There must be a broad mix of sustainably built homes that brings much-needed stock to both buyers and renters,” he added. “The plan must be delivered with precision and in a way that is connected with wider government planning to ensure key infrastructure is provisioned for as the population further grows.”
As Pennycook steps into his new role, the housing sector and the public alike will be watching closely to see how he navigates these pressing challenges and works towards resolving the ongoing housing crisis.
NetRent Health Warning to Landlords
Landlords should heed this serious warning, this is the same Matthew Pennycook who, back in April this year, stated that landlords should be made to wait two years from the start of a tenancy before selling or reclaiming their property.
Click here to read our report at the time.
Now Pennycook is in charge of policy decisions like this.
His immediate boss, Angela Rayner, promised that Section 21 notices would be scrapped on “day one” of a Labour government. Landlords are now on notice that this new government could seriously damage your wealth.