Mr Clark is MP for Tunbridge Wells, a position he has held since 2005 and forms part of a cabinet being cobbled together by Boris Johnson who has just delivered his resignation speech on the steps of 10 Downing Street.
Clark has held various roles in government and is well known in the industry as he was secretary of state for communities and local government from May 2015 to July 2016.
Clark tweeted: "We have a duty to ensure that the country has a functioning government in the weeks ahead.
"Having been secretary of state at the communities department before, I will do my best to provide stability, good governance and accountability to Parliament at this important time."
Nick Leeming, Chairman of Jackson-Stops, comments: “Another new Housing Secretary isn’t surprising as we all watch the turmoil of the past 24 hours in Westminster with more than 50 ministerial resignations. What is good about Greg Clark is that his previous stint on the front line as Business Secretary as well as having previously served as secretary of state for communities and local government should put him in good standing when examining the deadlock between housebuilders and government, to encourage rather than impede the swift delivery of new homes to meet rising demand.
"The Levelling Up agenda under Gove was a clear Borism that he has since urged his successors to continue to pursue. But whether the Conservatives can retain power in the longer term is something that remains to be seen, with political posturing over the course of the day. I hope ministers put the nation first at this critical time for the economy and for the housing market. Halifax reported yesterday that house prices increased 13% in the last year, the highest annual growth since 2004, with a mix of high inflation and rising mortgage rates pushing homeownership out of reach for many.
"However, the rate of growth is slowing, with a much steadier outlook for the market likely to be reflected in the next stream of residential transaction figures as the lag catches up. We need stability for the economy and housing market to thrive and that is what many are predicting for the months ahead, so a quick return to business as usual is welcomed.”
Nathan Emerson, Propertymark CEO, comments: “We have previously met Greg Clark when he held the equivalent position in what was DCLG. The hope from having someone with this experience is that he will be able to maintain momentum on important issues such as renters reform, leasehold, building and fire safety requirements and regulation standards amongst property professionals.”
