I rise to speak to new clause 119. I thank the Minister immensely for her engagement on this issue. Although she is the sixth Housing Minister I have spoken to about short-term holiday lets and second homes in my constituency, she is the first to deliver real change.
The issue in North Devon, like in many coastal communities, is acute. When I was elected to this place, Croyde was 64% second homes and short-term holiday lets. In North Devon, since the pandemic, we have lost 67% of our long-term rentals, and seen a 30% increase in property prices and a tripling of section 21 notices as people flip their long-term rentals into short-term holiday lets.
In Devon, we have worked hard to better understand what is driving some of these changes. Whereas before the pandemic we might have highlighted second homes as a particularly big issue, short-term holiday lets are now a major factor. I welcome the Minister’s changes and the caution with which they are being approached, because the unintended consequences of tinkering in this market and getting it wrong are often great.
It is not only in the Department for Levelling Up, Housing and Communities that we need changes to legislation, as the changes to landlord tax relief introduced in 2016, which came into effect in 2020, have had a monumental impact on this market. Although my work here may be nearly done, I am now lobbying other Ministers for changes to make sure we properly tackle this issue, which is multifaceted and spans many different Departments.