Top housing job changes hands in cabinet reshuffle

Steve Reed MP has taken over as Housing Secretary after Angela Rayner’s resignation. What does that mean for the private rented sector?

Reed is committed to the government’s target of building 1.5 million new homes by 2029, which would inject much-needed supply into the market, and started his new job by holding a roundtable meeting with developers. He has also threatened to sanction developers that don’t build fast enough.

But the government is currently well off target. The Ministry of Housing, Communities and Local Government estimates that just over 186,000 homes were built in England between July 2024 and June 2025, far short of the 300,000 needed. The incoming Planning and Infrastructure Bill could help speed things up, but the new secretary still has a lot of work to do.

On the rentals side, he will lead the department responsible for the implementation of the Renters’ Rights Bill, which could now just be weeks away from receiving Royal Assent.

Several industry commentators have pointed to Reed’s comments from 2013 about a “rip-off culture” among letting agents. He has also backed the Renters’ Rights Bill, as well as raising the stamp duty surcharge for landlords.

Industry bodies including Propertymark and the National Residential Landlords Association have welcomed Reed’s appointment, saying that they look forward to working with him constructively.

Meanwhile, Matthew Pennycook MP stayed in place as Minister for Housing and Planning, ensuring some continuity at the department. He has been one of the key drivers behind the Renters’ Rights Bill, and also recently reconfirmed that the government will seek to regulate estate and letting agents. While he hasn’t yet shared further details, he has said that the government will set out their full position “in due course”.