New Housing Secretary - Simon Clarke

Nick Leeming, Chairman of Jackson-Stops, comments on the appointment of Simon Clarke as Housing Secretary:

“While Simon Clarke’s appointment as Housing Secretary makes him the 13th MP to have held the role in 12 years, the property industry will be hoping that it won’t be an unlucky move.

“Already vocal on many issues facing the housing market in the short and long-term, Mr Clarke has publicly supported regeneration projects in the north, a commitment to building new homes and achieving net zero. How he moves a busy housing agenda forward in an increasingly challenging macro environment is where the market needs answers.

“Data published by Halifax today shows that house prices are continuing to edge higher, increasing by 0.4% in August and 11.5% annually*. Rapid inflation and a refocusing of priorities for buyers in the winter months could see demand stabilise, but the market continues to put sellers in a favourable position when we compare to pre-pandemic transaction levels.”

*Source: Halifax House Price Index monthly results, August 2022