Matthew Pennycook has been appointed as the new housing minister.
Pennycook, who secured re-election as MP for Greenwich and Woolwich with a majority exceeding 18,000 votes, has been serving as shadow housing minister since 2021.
In his new role, he will report to Angela Rayner, who was confirmed as housing secretary – as well as deputy leader – on Friday.
He has been involved in housing policy having recently submitted dozens of amendments to the Renters (Reform) Bill.
Pennycook said: “It is a real honour to have been appointed Minister of State at the Department of Levelling Up, Housing and Communities (DLUHC).
“Tackling the housing crisis and boosting economic growth is integral to national renewal. Time to get to work.”
Nathan Emerson, CEO of Propertymark, said: “Housing must play a pivotal role for the government moving forwards and in real terms, delivering over 1,100 new homes every single working day for the next five years will take immense planning and enormous stakeholder engagement to achieve.
“The housing sector is crying out for a vastly increased supply to keep pace with demand, there simply can be no room for error moving forwards or we may end up with prices artificially rocketing due to consumer desperation in finding a suitable home for their needs.
“There must be a broad mix of sustainably built homes that brings much need stock to both buyers and renters. The plan must be delivered with precision and in a way that is connected with wider government planning to ensure key infrastructure is provisioned for as the population further grows.”
Perry Jax, marketing director for Alesco, said for Labour to be successful with this housing policy, they must look at areas of tenant demand, which continues to outweigh supply, and focus on locations where demand and economic benefits go hand in hand – an approach echoed by think tank Centre for Cities.
He added: “While it’s important Labour develop a substantial number of affordable and social housing to replace what’s been sold off through the right-to-buy scheme, they must not neglect private landlords who play a vital role in keeping the market growing. A promise to not increase Capital Gains Tax is a good indicator, though an increase to stamp duty surcharge for non-UK residents could stifle the UK market’s global appeal.
“Opening up the newly formed ‘Grey belts’ and prioritising brownfield sites for new developments while promising to speed up the process to approval should start Labour off on a good course to deliver, providing they choose to stick to the pledges outlined in their election-winning manifesto.”
