Our experts respond to the King’s Speech 2023
On Tuesday 7 November 2023, King Charles III outlined the government’s priorities for the year ahead in his first King’s Speech since becoming monarch.
The speech highlighted 21 laws that ministers intend to pass, including a ‘Renters (Reform) Bill’ and ‘Leasehold and Freehold Bill’.
John Stephenson, Partner in our private real estate team and Tristan Ward, Partner in our landed estates and agriculture team, comment on these developments.
Renters (Reform) Bill
Tristan Ward stated that the legislation will be ‘welcome news’ for tenants in the private rental sector, adding:
‘We think the bill will be passed with few amendments; and it remains to be seen whether and how many private sector landlords will exit the market, with consequent effects on availability of stock and levels of rent in a country chronically short of housing.’
Leasehold and Freehold Bill
Commenting on the change in legislation relating to leaseholds, John Stephenson explains that it will affect only new-build houses, having fewer benefits for the existing owners of leasehold flats.