Saudi Arabia signed housing and construction agreements worth $507 million with Chinese partners, including China State Construction Engineering, during a visit to Shenzhen. The deals aim to deepen cooperation on urban development projects and support Saudi Arabia's Vision 2030 strategy, expanding beyond traditional construction to smart-city technologies.
Shadow Housing Minister Andrew Bragg seeks 6% drop in entry-level house prices, blaming the government's unmeans-tested 5% home deposit scheme for recent price hikes, advocating for improved affordability through increased housing supply and calibrated migration policies.
Germany's Federal Minister for Building, Verena Hubertz (SPD), stated that cuts to housing benefits are unavoidable due to the federal budget "difficulties." She aims to make the "painful cut" as manageable as possible, despite saving €1 billion from her ministry's budget.
NSW Housing Minister Rose Jackson stated that large public housing estates are not 'functional communities,' defending the redevelopment of Waterloo, Sydney. Activists and residents criticize the plan, advocating for refurbishment and 100% public housing.
A fatal fire in a subdivided Hong Kong flat, which killed one and injured four, has prompted Housing Secretary Winnie Ho to emphasize the need to eradicate substandard housing. The affected residents lived in an average of 5 sq metres each, highlighting fire safety risks. A new ordinance aims to address these issues.
Senior UK ministers have rejected proposals for a one-year freeze on private sector rents, with Housing Secretary Steve Reed and Housing Minister Matthew Pennycook publicly criticising the idea less than 48 hours after it was revealed. The government split has fueled speculation about Chancellor Rachel Reeves' job security following reports that Keir Starmer considered sacking her after local elections. Downing Street has ruled out the rent freeze and insists Reeves retains the PM's confidence, though Starmer stopped short of guaranteeing her position at Prime Minister's Questions. City investors are watching closely, with some warning leadership uncertainty could push up government bond yields further.
Housing minister Matthew Pennycook has said a ban on new leasehold properties is unlikely to come into force until after the next election, despite the 2024 ban on leaseholds for new houses. The government plans to ban new flat leaseholds soon but says switching on the ban involves complex trade-offs with housing supply. The Green party's Zack Polanski has accused the government of U-turning on its election pledge, while campaign group Free Leaseholders warned that developer incentives to sell leasehold flats will worsen the housing crisis.
Housing minister Matthew Pennycook has said a ban on new leasehold properties in England and Wales is unlikely to come into force before the next election, despite the 2024 legislation passing. Defending the government's gradual approach, Pennycook cited complex trade-offs with housing supply and legal complexities. The government plans to have primary legislation in place but will carefully time the ban's commencement through ongoing consultation. The Green party has accused the government of u-turning on its election pledge, while campaign groups criticize the foot-dragging.
Housing minister Matthew Pennycook has said outright abolition of the leasehold system in England and Wales would be 'almost certainly impossible', rejecting claims the government is rowing back on Labour's election promises. In a speech at the Institute for Government, he said the government would 'dismantle' the system by making it easier for leaseholders to convert to commonhold, but acknowledged the process would take time. The draft bill would ban new leasehold flats and cap ground rents at £250 annually.
Housing minister Matthew Pennycook has said outright and immediate abolition of the leasehold system in England and Wales would be 'almost certainly impossible', rejecting accusations the government is dragging its feet on reform. The government will instead 'dismantle' the system before the next election by making it easier for leaseholders to convert to commonhold ownership, banning new leasehold flats and capping ground rents at £250 a year. Critics including the Green Party and campaign group Free Leaseholders have accused Labour of rowing back on election promises.
