Real estate

The King's Speech in November 2023 included further announcements about leasehold reform. This briefing contains a summary of the leasehold reforms, clarifying the status of the long-running leasehold reform project. Further information about the Leasehold and Freehold Reform Bill, which is currently under consideration in the House of Lords, can be found here. The Renters (Reform) Bill is still at Report Stage in the House of Commons.

The CMA has opened a new investigation into 8 housebuilders - Barratt, Bellway, Berkeley, Bloor Homes, Persimmon, Redrow, Taylor Wimpey and Vistry – in light of evidence suggesting that they may be sharing non-public information between them, including sales prices and details of incentives for buyers. As explored in this briefing, this investigation stems from a recent CMA report which concluded that significant intervention is needed to ensure that a sufficient quantity of good quality homes are delivered, and recommended streamlining the planning system and increasing consumer protection.

Since January 2024, certain planning permissions in England have been subject to a new pre-commencement condition requiring a biodiversity gain plan for the development. The condition will require the developer to submit, and have approved, a plan which demonstrates how a 10% gain in biodiversity value will be achieved.

Biodiversity net gain represents a significant new requirement and there have been concerns amongst developers and local planning authorities alike about how the current planning system will cope. Read this briefing for more.