The Housing and Planning Reform Bill, introduced to Parliament on Monday, represents the most significant overhaul of England's housing system in a generation. Ministers have described it as a response to a housing crisis that has been building for decades. Critics argue it does not go far enough. Both assessments contain truth.

The bill's most significant provisions concern planning. Local authorities will be required to meet new housing targets, with financial penalties for those that consistently fall short. The definition of "brownfield land" is being expanded to include a wider range of previously developed sites. A new national infrastructure planning regime will allow certain categories of housing development to bypass local planning committees entirely.

For renters, the bill extends and strengthens the protections introduced by the Renters' Rights Act earlier this year. Rent increases will be capped at the lower of wage growth or CPI inflation for the duration of a tenancy. The notice period for eviction in most circumstances is extended from two months to four. A new national register of landlords will be created, with mandatory accreditation requirements.

What the bill does not do is address the fundamental economics of housebuilding. The planning reforms will, if they work as intended, increase the supply of land with permission to build. But planning permission is not the binding constraint on housebuilding in most parts of England. The binding constraints are construction costs, labour availability, and the business model of the major housebuilders, who have a financial incentive to build slowly in order to maintain prices. None of these is addressed by the bill.

The opposition has welcomed the tenant protection provisions while criticising the planning reforms as insufficient. Housing campaigners have broadly welcomed the bill while noting that its impact will depend heavily on implementation. The government has said it expects the bill to result in 300,000 new homes per year by 2030. Independent analysts have described that figure as optimistic.