Property chiefs deliver key demands to NI’s re-started Executive
Propertymark's blueprint includes a new code of practice for letting agents and tax reforms following the recent restoration of power sharing in the country.
Property leaders have presented Northern Ireland’s new executive at Stormont (picture) with a blueprint for housing.
Propertymark has listed its key asks for the housing sector in the province, after the recent restoration of power sharing within the country.
One of the trade body’s requests is that the Northern Ireland Executive focus on long-term factors affecting the private rental sector.
Final choice
In particular, the Private Tenancies Act (Northern Ireland) 2022 has many sections that need ministers to make a final choice on reforms that are urgently required to bring the PRS in Northern Ireland in line with the rest of the UK, like electrical safety standards.
On rent controls, Propertymark is opposed because they had a negative impact in Scotland, and the trade body urges the Executive to instead consider measures such as increasing Local Housing Allowance rates.
Propertymark also says the Executive should also consider building more houses.
Code of Practice
It believes lettings agents in Northern Ireland should possess minimum qualifications, and be held accountable by a statutory Code of Practice.
Regarding Stamp Duty Land Tax, this tax has been successfully devolved in Scotland and Wales.
Finally, the trade body stated there should be sufficient incentives for homeowners and landlords to improve the energy efficiency of their homes, like installing heat pumps.
There are key challenges in the housing sector in Northern Ireland that need to be addressed.”
Henry Griffith, Policy and Campaigns Officer at Propertymark, says: “There are key challenges in the housing sector in Northern Ireland that need to be addressed including implementing the outstanding parts of the Private Tenancies Act, but also exploring ways that we can increase supply of homes in Northern Ireland, make homes more energy efficient and ensure the tax system when buying property is fit for purpose.”
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