TORY PARTY CONFERENCE – REACTIONS

Jamie Johnson, CEO, FJP Investment
“Amidst the endless discussion around Brexit and its eventual outcome, it is a relief to hear the Chancellor discuss the government’s infrastructure spending plans today. For too long now domestic issues have had to play a supporting role to Brexit. Amongst them, the housing crisis and a lack of affordable living options are some of the biggest problems requiring attention.

“While Mr Javid may not have focused on new-build targets, there are still positives to take from the speech – namely the fact he has committed significant investment into transport links and digital connectivity. Indeed, one of the most common criticisms of new-builds is the lack of infrastructure around the housing developments, so by strengthening these fundamentals the foundations are hopefully being laid to enable more affordable homes to constructed across the UK. Now we must see if the Chancellor can follow through on his promises.”

Paresh Raja, CEO, Market Financial Solutions
“It’s hard to know quite what to make of Sajid Javid’s speech. In one respect, it provided a long-term vision many in the property industry have been calling for, laying down a blueprint that goes beyond the Brexit deadline. After all, I and others in the real estate sector have been calling for creative reforms to address the housing crisis, including the need to make it easier for house-builders to actually build – as such, the Government’s proposed reforms to planning regulations are a step in the right direction.

“Yet given the current state of politics, now-days any big policy announcement needs to be taken with a pinch of salt. Having the vision is one thing, the challenge is ensuring political posturing translates into actual policy and action. I now look with interest to the 2019 Autumn Budget, which will give the Government the opportunity to turn these announcements into legislation.”

Jerald Solis, Director, Experience Invest
“Brexit has dominated political discourse for so long that it comes as a genuine relief to hear the Chancellor discuss domestic affairs. In particular, it is positive to hear today of the government’s plans for investing in infrastructure and simplifying the planning process for residential properties.

“The housing crisis is one of the most pressing issues affecting the UK at present. And while neither Mr Javid or Mr Jenrick directly focused on new-build targets (which continue to be missed), it is important that they are committed to improving transport links and digital connectivity across the country. Indeed, one of the most common criticisms of new-builds is the lack of infrastructure around the housing developments, so this is certainly something the government must address. Now we must see if the Chancellor and Housing Secretary can follow through on their promises.”