Key Housing Policies from Labour and Conservative Party Manifestos

Key Housing Policies from Labour and Conservative Party Manifestos: What landlords need to know.

The manifestos of the big parties are now published. With 136 pages in the Labour version and another 76 pages from the Conservatives, it seems like a good idea to pick out those parts of the documents which relate to housing and the property rental sector.

Here are the key points relating to housing policies from Labour and Conservative.

Conservative Party pledges

Most of the party’s housing policy is aimed at encouraging housebuilding and homeownership. The manifesto includes a commitment to maintaining protections for the Green Belt and supporting urban regeneration projects.

‌The party plans to support first-time buyers with a new Help to Buy scheme and increases in Stamp Duty thresholds. They also plan to complete the process of leasehold reform.

Social landlords will be expected to evict troublesome tenants. The party also pledges to fight the closure of Right to Buy schemes.

The party plans to press on with the Renters (Reform) Bill and the court reforms required.

Also in the manifesto is a temporary (two-year) relief on Capital Gains Tax for landlords who sell their properties to their tenants.

Labour Party pledges

Labour’s manifesto includes a commitment to build 1.5 million homes including affordable and social housing. They suggest that poor-quality green-belt land could be earmarked for this purpose.

This house-building programme will require planning system reforms and commentators point out that enhanced building safety measures are essential to ensure sustainable development and protect residents.

The party plans to increase taxes on overseas investors and non-doms, a move which could reduce speculative investment, ensuring housing availability for locals.

For first-time buyers, there is a planned mortgage guarantee scheme. There are also plans to tackle the problem of unregulated ground rent charges and spiralling maintenance costs.

Looking at the rental market, the Renters (Reform) Bill – and the court reforms required – is included in Labour’s plans. There is also a commitment to ensure homes in the private rented sector meet minimum energy efficiency standards by 2030.

Will pledges become actions?

Experience tells us that while some manifesto commitments are enacted, others are delayed, shelved or prove too challenging. Even so, a manifesto is a good indicator of priorities. Both of the major parties seem to have recognised housing as an issue that resonates with voters. Perhaps unsurprisingly the Conservatives lean more towards home ownership, while the Labour party puts more emphasis on the provision of social housing and housing standards.

With no mention of private sector rent controls, landlords might be feeling somewhat relieved, but with so many renters in the electorate, the sector will always be under scrutiny. As always, we advise landlords to keep abreast of developments and take proactive steps to protect their interests.