Housing is one of the main commitments of the major parties as their manifestos are published.

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Hot off the Press – Angharad Trueman our Group Lettings Director and President Elect of ARLA Propertymark reviews the current status from the Election manifestos.

Housing appears to be one of the main commitments of the major parties as their manifestos are published.

As mortgage rates remain high and rents across the country continue to increase at high levels, talk of housing policy has been high across all parties. There were over 15 mentions of housing in all the main party’s manifestos. 

In the 12 months to December 2023, rental prices for the UK (excluding London) increased by 6%.

The Institute for Fiscal Studies has warned, changes to mortgage interest relief and the level of stamp duty paid by landlords have led to higher rents and reduced the supply of homes across the private rental market.

YouGov poll conducted earlier this month showed it was the 6th most important issue, 10% said that housing policy would primarily inform their vote. Unsurprisingly, housing was a particular concern for the young. For the youngest Britons, housing stands out as a concern being listed as a top issue by 20%.

Key changes by party

We have highlighted some of the key changes being put forward by each of the main parties in the rental sector:

Labour would abolish section 21 no-fault evictions immediately. Renters would be given powers to challenge unreasonable rent increases. Awaab’s Law, requiring landlords to fix health hazards, would be extended to the private rental sector.

The Conservative’s promise to complete the Renters Reform Bill and abolish no-fault eviction, after reforming the courts to ensure landlords can still evict tenants “guilty” of anti-social behaviour.

The Lib Dem manifesto promises “a fair deal for renters”, with an immediate ban on no-fault eviction. Three-year tenancies would become the new default. The manifesto also pledges to create a national register of licensed landlords. 

The Green Party want to bring in rent controls so local authorities can intervene if the rental market is unaffordable for many local people. They also pledge to end no-fault evictions, introduce a tenants’ right to demand energy efficiency improvement and to introduce private residency boards to provide an informal, cheap and speedy forum to resolve disputes before they reach a tribunal.

The Reform Party contract wants to remove the 2019 Tax Changes for Landlords and put measures in place to encourage smaller landlords into the rental market and finally they want to abolish the Rent Reform Bill and boost the monitoring, appeals and enforcement.

Commentary from Housing specialists have stated concerns about the timing of any changes suggesting that landlords need sufficient time to adapt to any significant changes.

NRLA Chief Executive Ben Beadle said:

''All of the main parties are committed to ending section 21. What matters is ensuring the replacement system works, and is fair, to both renters and responsible landlords. Given this, we agree with the Shadow Housing Minister who has argued that 'landlords need robust grounds for possessions in legitimate circumstances', and they need the system to operate quickly when they do.''

Additional changes

Labour stated private rented sector homes will need to meet minimum energy efficiency standards by 2030, although it did not explain what these standards might be.

It also announced a ‘Warm Homes Plan', offering grants and low interest loans to improve energy efficiency and cut bills, although it is not clear if these would be available to PRS landlords.

Conservatives have stated they will fund an energy efficiency voucher scheme, open to every household in England, to support the installation of energy efficiency measures and solar panels, helping families lower their bills

Each party’s pledges will significantly alter the housing sector.

We will continue to monitor the political parties’ commentary on housing during the election and share the news. Our recent attendance at the Propertymark One event gave some great insights on the focus on housing that all political parties are providing in their manifestos, especially economist Daisy McAndrew.

“It’s clear that whichever way the country goes on the 4th July, that we are in for some big changes and its important landlords and tenants keep abreast of these potential changes so that they are prepared for what is to come.

Either way, it’s great to see that all parties understand the importance the UK housing sector plays and although not all angles have been considered (such as the impact for landlords), it’s heartening that all stakeholders in government are providing the UK housing sector with the focus it needs to try and solve some of our complicated and longstanding issues”

 

 

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