She commented on X: “I’ve been asked to step down from my role as Housing Minister.
“Disappointed and was looking forward to introducing the Renters Reform Bill to committee tomorrow and later the Leasehold and Freehold Bill.
“It has been a privilege to hold the position and I wish my successor well.”
The industry is therefore concerned about the lack of stability in this role and the impact this could have on the already struggling housing market.
Paresh Raja, CEO at Market Financial Solutions (MFS), said: “The merry-go-round continues.
“Creating clear and consistent policies — let alone delivering on them — is inevitably difficult with such frequent changes in personnel, and this impacts homeowners, buyers, renters and investors alike.
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“A sense of stability is important in virtually every industry, and the property sector would certainly benefit from an extended period with a single housing minister.”
Michelle Lawson, director at Lawson Financial, commented: “Housing is one of the fundamentals of the UK economy and, given the current housing crisis, needs someone that can turn it around for the better before the whole thing implodes further.
“It needs a long-term plan, not endless short-termism.”
Gary Bush, financial advisor at MortgageShop.com, stated: “The UK is never going to gain the much-needed traction in housebuilding with a change at the top coming so frequently.”
Gary Boakes, director at Verve Financial, commented: “How can a government department be expected to perform well with so much change of leadership, and this has shown over the last few years with the lack of polices.
“On the one hand, we want new houses to be built, but then we stopped help-to-buy and didn't have an adequate replacement for this.
“Housing is huge for the UK economy, and we need someone that can lead a department who is in their position long enough to make a mark.”
Nick Sanderson, CEO at Audley Group, concluded: “Rachel Maclean being relieved of the role [of Housing Minister] means we are due the 16th Housing Minister since 2010, and the seventh in just two years.
“The housing market needs reform, and that’s difficult to achieve without any kind of stability.”