High hopes for new housing minster | Mortgage Strategy

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The latest housing minister has been appointed at a “critical juncture” in the housing market, says Just Mortgages and Spicerhaart national operations director John Phillips.

Eddie Hughes replaces Kelly Tolhurst, who resigned as minister for rough sleeping and housing over the weekend due to receiving “devastating” family news.

It is hoped that because of his background in studying civil engineering at university and having worked as deputy chief executive for a homelessness charity and as chairman of Walsall Housing Group, a not-for-profit housing association, Hughes will prove to have more staying power than previous ministers in this position.

Phillips says of the critical juncture in which the new minister finds himself: “There have been calls to extend the stamp duty holiday to avoid a cliff edge as we approach the deadline. Despite these warnings, we expect the market to continue thriving regardless of the stamp duty holiday.

“We foresee the end of stamp duty holiday being a speed bump in the road, with the market slowing up before hand and then returning to its normal speed shortly after. There are still plenty of people who are looking to buy who are in stable employment and with another lockdown, people are evaluating their needs.

“The new minister will need to get to grips with the role quickly and make changes to help keep the market robust. The housing market has been one of the few areas of the economy that has remained robust through the pandemic and we must not be complacent.

“With 12 housing ministers since 2010, we hope with his experience in the construction market, Hughes will be around for slightly longer than his predecessors and help the housing market continue to thrive.”


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