Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Levelling Up, Housing and Communities, in the context of the under-supply of housing in England, if he will take steps to help ensure that future housing development is designated for local residents rather than for asset investors.

Development plans can, if supported by local evidence, be used to prioritise local residents by managing the number of new holiday homes in local areas, for example, by including policies which require new open-market housing to be occupied as a primary residence.

The Government recognises the adverse effect that large numbers of second homes can have on some areas. We have introduced a number of measures to help mitigate those effects, including introducing higher rates of Stamp Duty Land Tax for those purchasing additional properties.

The Government’s new First Homes scheme, which offers at least a 30% discount to first-time buyers, can be used to prioritise local residents and expressly prohibits asset investors. Local  authorities can prioritise First Homes for local people or key workers. First Homes must remain the owners primary residence and there are restrictions on letting.