Short-Term Let Reform
This week, the Government announced new reforms to the short-term let market to address the vast numbers of properties that are now advertising on short-term letting sites like Airbnb. As South Devon is a popular tourist destination and a large chunk of our economy is based on the tourism and hospitality sectors, it is perhaps unsurprising to find that thousands of houses have been taken out of the long-term let market and instead been made available for those on holiday.
With such a high demand during the high season it is, again, unsurprising to know that short-term lets are charging two-thirds more than long-term lets and are severely hampering the stock of available properties for those who live and work all year round in South Devon. Some might argue that the answer is to build more, but South Devon continues to meet its housing targets. Instead, what is happening is that the long-term rental market is becoming ever more costly, bureaucratic and frustrating so many are either giving up their properties or moving into the short term lets.
The Government’s policy to create a registration scheme and a usage class gives far more power to local councils to control the number of short-term lets. However, it is also important that we recognise the value and need for those who buy properties to rent out and provide them for the long term. Yet, the Renters Reform Bill as it currently stands is likely to do the opposite. The Bill rightly seeks to strengthen tenant’s rights, however, it does so at such a dramatic cost to the landlord that is highly likely that hundreds of thousands of responsible, dutiful landlords will leave the market. The result will be a disaster for those looking to rent while doing nothing to change the overall supply of housing for purchase.
Balance is often needed and in this case all the more so. Between short and long-term lets, we need to ensure we can continue to welcome visitors to stay in South Devon while also ensuring that those who wish to live and work in the region can find affordable, long-term, high-quality housing. My work to get the national legislation to this point is already bearing fruit; now all it requires is one last push.
Town Centre Regeneration
Beyond the Levelling Up Fund’s £20m for Brixham and Paignton, a further £20m has been provided for South Devon through the similarly (and somewhat confusingly) named Levelling Up Partnership. This new fund provides £20m for Torbay to be spent on five local projects, one of which will be Brixham Town Centre’s regeneration.
For too long, many have had to put up with poor parking facilities and an aesthetic that does not do justice to the beauty, creativity and history of this incredible town. Plans are already being explored by several groups but it is essential that whatever comes forward includes a new car park with the potential for shops and housing. Alongside this, a new park and ride outside the town must be constructed to ensure we do not congest an already busy town.
A solution can be readily found, but it requires quick thinking and working with a clear chain of command. Getting this right will be essential to safeguarding the town and attracting future investment.