People from across the property industry seem largely optimistic after Labour secured a landslide victory at the General Election.
While landlord groups are worried about the proposed abolition of Section 21 evictions, many are keen to see how and whether Labour’s housebuilding plans come to fruition.
Labour’s housing pledges include delivering new towns, promoting building on the ‘grey belt’, reforming planning, as well as building 1.5 million homes in five years.
Kris Collett, managing director of Windsor-based property developers Castlemere Developments, said: “The housebuilding industry has struggled under 14 years of Conservative government and we are optimistic about the change a new government will provide.
“With a large parliamentary majority, Labour is in a position to bring forward much needed planning reforms required to get the housing sector and get the country moving. I believe the whole industry is now a little more optimistic about the future.”
Phil Andrew, chief executive for Orbit Group, said: “We would like to congratulate Sir Keir and the Labour Party.
“With a clear majority in place, we have a unique opportunity to put the measures in place needed to tackle the housing crisis once and for all, so now is the time for pledges to be turned into action.
“We stand ready to work with the new government to deliver its vision for housing and support it in building 1.5million new homes, to unlock the meaningful delivery of affordable homes the UK is so desperately in need of.”
Quality, not just quantity
Other commenters were keen that Labour focuses on not just boosting housing supply, but focusing on quality.
A spokeswoman from The Property Institute, a professional body for property managers, said: “Labour’s commitment to ‘get Britain building again’ is commendable and necessary.
“Whilst TPI supports Labour’s stance on homeownership as a cornerstone of security, it also advocates for the new government to broaden its focus beyond simply providing homes, to encompass quality and living experience in new supply and improving the standards and energy efficiency of our existing housing stock.
“Moreover, in the aftermath of Grenfell, it is imperative that the new government prioritises our country’s numerous outstanding building safety concerns without delay.
“As the new government prepares to introduce an additional 1.5 million homes, it is more critical than ever that the millions of residents in these ‘vertical villages’, regardless of tenure, reside in safe, secure, and well-managed homes, have access to the right information about their home, and are served by competent, ethical, and regulated property managers. Improving the lives of residents in multi-occupancy buildings must be high on the agenda of this government.”
Nick Sanderson, chief executive at Audley group, said: “Change needs to focus on housebuilding, but to make that happen help is needed to reform the planning system and to expedite specialist housing, including housing that is tailored to our growing older population.
“Only then will we see more homes come to the market as people choose to downsize, leaving family homes available for those further down the ladder.
“It takes bravery to move away from promises of building more and more, to a more laser focus on what needs to be built to make the most difference. Let’s hope the new government is ready to take that leap.”
Section 21
Labour has pledged to abolish Section 21 immediately, though Angela Rayner’s comments suggest the party is also mindful of improving the court system, which should help to mitigate the problems of using a Section 8.
Karl Wilkinson, chief executive of adviser firm Access Financial Services, said: “With the Labour win, some landlords will be reconsidering their options.
“Labour said they will immediately ban Section 21 no-fault evictions, which could push portfolio landlords out of the buy-to-let market, resulting in rental accommodation becoming even more scarce and expensive.
“That said, labour’s ambitious house-building plans are good news for landlords, especially if it increases the supply of affordable social housing so that low-income households don’t have to rely on the private rental sector.”
Dan Wilson Craw, deputy chief executive of campaign group Generation Rent, said: “In its manifesto the Labour party promised to abolish Section 21 evictions immediately. Today Mr Starmer promised urgency.
“After an entire Parliament with nothing to show for renters, this must now mean a new Renters Reform Bill announced in the Kings Speech, with security of tenure, affordability and higher standards at its heart.”
