Andy Burnham’s victory in the Makerfield by-election has positioned him as frontrunner for Prime Minister, prompting property industry professionals to evaluate potential policy shifts affecting housing markets, development, and the private rented sector.
During his tenure as Mayor of Greater Manchester, Burnham oversaw significant regeneration and infrastructure investment. House prices in the region rose 63% over the past decade, compared to London’s 7%, according to Rightmove data.
Infrastructure and planning approach
Burnham has consistently advocated combining infrastructure investment with housing development, citing projects such as Victoria North and Mayfield as examples. He supports devolution of planning powers and housing delivery to city regions, and has pledged to reinstate the Manchester leg of HS2.
On the private rented sector, Burnham increased landlord fines by 43% during his mayoralty and has called for rent controls. He has also supported grants of up to £30,000 for landlords to improve energy efficiency and backed Greater Manchester’s Good Landlord Charter.
Property taxation represents another potential area of change. Burnham has expressed interest in proposals to replace Council Tax and Stamp Duty with a Land Value Tax. He has also supported ending the sale of new leasehold homes and strengthening leaseholder protections.
Burnham previously unsettled financial markets by suggesting governments should not be “in hock to the bond markets”, though he has since sought to build relationships with the sector.
Industry response
Verona Frankish, Chief Executive of Yopa, said a Burnham government would likely focus on increasing housing supply and improving affordability. “Greater investment in infrastructure and local economies outside London could provide a substantial boost to housing markets in major regional cities such as Manchester, Birmingham, Leeds, and Liverpool,” she said.
David Alexander, Group Executive Director of LRG and CEO of the Acorn Group, said priorities should include building more homes, reforming Stamp Duty, and creating conditions for growth. “The country does not need political slogans; it needs practical leadership that delivers results,” he said.
Sián Hemming-Metcalfe, Operations Director at Inventory Base, noted concerns about cumulative regulatory intervention. “Greater Manchester saw a 43% rise in landlord fines under his tenure. He has backed compulsory purchase powers for properties failing decent homes standards, and in 2023, he wrote to the then Housing Secretary demanding rent control powers,” she said.
She added that Burnham’s commitment to large-scale social and affordable housing could address underlying supply deficits. “He has called for half a million council and social homes by the end of the decade and argued that the entirety of the government’s affordable housing funding should be directed toward social rent.”
Jeremy Leaf, north London estate agent and former RICS residential chairman, warned that political uncertainty would not benefit market confidence. On rent controls, he said: “They may be popular but will hardly encourage the larger scale investment which we are crying out for.”
Mark Chick, Director of ALEP and Senior Partner at Bishop & Sewell, said Burnham has actively backed banning the sale of new leasehold flats and houses. “What isn’t in doubt is that housing is, and has been for a while, a priority for Burnham,” he said.
Vanessa Hale, Chief Executive of Real Estate:UK, said the leadership contest would create further political uncertainty. “With viability challenges meaning that building activity across the country is stalled, it is imperative that we move as quickly as possible back to a more stable, predictable policy environment,” she said.
Lawrence Turner, Director of planning consultancy Boyer, said a Burnham premiership would likely mean a more hands-on approach to planning. “Developers could find themselves working in a system where social rent, affordable homes, better public transport links and wider community benefits carry much more political weight when it comes to planning decisions,” he said.
Market implications
The prolonged leadership battle could result in a period of uncertainty for both the economy and housing markets. Interest rates, wage growth, economic confidence, and housing availability will continue to play significant roles in determining property values and market activity, regardless of political leadership changes.
Policy proposals remain largely speculative at this stage, with industry professionals emphasising the need for clarity on implementation timelines and detailed frameworks. The property sector’s ability to adapt to higher standards and greater accountability will depend on policy certainty and a focus on delivery, according to multiple industry commentators.
