Labour vs Conservatives – General Election 2024 Housing Policies

On the night of July 4th 2024, the United Kingdom may well have a much different future ahead than it’s experienced in recent years.

With Labour going head-to-head with the Conservatives, it’s thought that the former have a much greater chance of success than in the 2019 general election.

While both parties have locked horns in recent weeks on live television debates and during canvassing, they have also released their manifestos – and we’re concentrating solely on the housing aspect for you today.

So, what are Labour’s housing policies? Have the Conservatives made any promises for the future housing landscape? Let’s find out.

What are Labour’s housing policies?

Building more homes

Labour wants to ‘Get Britain Building Again’ which would suggest they’re keen to push more homes being built in the future.

Labour believes that homeownership is now “out of reach for too many young people” and they want to create 1.5 million new homes in the next parliament. They state that they will immediately update the National Policy Planning Framework, including restoring mandatory housing targets.

Also, Labour will ensure that planning authorities have up-to-date Local Plans as well as reforming and strengthening the presumption in favour of sustainable development.

Local authorities and brownfield

If they gain power in 10 Downing Street, Labour claims that they will support local authorities by funding additional planning officers by increasing the rate of stamp duty surcharge paid by non-UK residents.

They’ll also ensure local communities continue to shape house building in their area and they’re not afraid to use their governmental powers to build the houses that are required.

Labour will also take a brownfield-first approach by prioritising the development of previously used land, as well as fast-tracking the approval of urban brownfield sites.

The green belt

The green belt is also a cause for concern for the Labour party who are determined to preserve it. Labour will take a strategic approach to green belt land designation and release to build more homes in the right places. The release of lower quality ‘grey belt’ land will also be prioritised and will introduce ‘golden rules’ to ensure developments benefit the local communities and nature.

Labour believes that, with partnerships between local leaders and communities, they will build a new generation of town. And, alongside urban extensions and regeneration projects, they will form part of a large-scale new set of communities around England.

To achieve this, Labour will need all Combined and Mayoral Authorities to plan for growth in their areas. They will give Combined Authorities new planning powers along with new freedoms and flexibilities to make better use of grant funding.

Compulsory purchase compensation

Labour has also stated that they want to reform compulsory purchase compensation rules to improve land assembly, speed up site delivery, and deliver housing, amenities, transport benefits, and infrastructure in the public interest.

They also state that, for specific types of development schemes, landowners will be awarded fair compensation.

Social housing

Social housing is also a big issue in the eyes of the Labour party, who claim they will deliver the “biggest increase in social and affordable house building in a generation”. To do this, they claim they will:

• Strengthen planning obligations to ensure new development provides more affordable homes.
• Make changes to the Affordable Home Programme to ensure it delivers more homes from existing funding.
• Support councils and housing associations to build their capacity and make a greater contribution to the affordable housing supply.

Labour also claims they’ll prioritise the building of new social rented homes and better protect existing stock by reviewing the increased right-to-buy discounts that were introduced in 2012.

Better quality homes & first-time buyers

Finally, Labour are certain that they want to build higher-quality and more sustainable homes. They will implement solutions to unlock the building of homes affected by nutrient neutrality without weakening environmental protections.

In terms of first-time buyers, Labour states they will work with local authorities to give first-timers the first chance to buy homes and put an end to international investors purchasing entire developments before they’re built.

They will also introduce a permanent, comprehensive mortgage guarantee scheme to support first-time buyers with lower mortgage costs.

What are the Conservatives’ housing policies?

Nutrient neutrality rules

The Conservative party wants to abolish the legacy EU nutrient neutrality rules to unlock the building of 100,000 new homes with local consent. The developers of these projects would be required in law to pay a one-off mitigation fee so there’s no net additional pollution.

Brownfield land

They aim to build a record number of homes on brownfield land in urban areas. To do this, they say they will provide a fast-track route through the planning system for new homes on previously developed land in the 20 largest cities in England.

Support for local builders

The Conservatives, led by Rishi Sunak, state they want to support local builders by requiring councils to set land aside for them and lifting Section 106 burdens on smaller sites.

Protecting the green belt

They also want to protect the green belt from uncontrolled development and ensure more homes are built where it “makes sense”, such as inner cities.

First-time buyer support

First-time buyers are also on the agenda as the Conservatives claim they will ensure the majority of first-timers pay no Stamp Duty and lower the costs of buying a home. Equity loans of up to 20% are also potentially on offer for help-to-buy users who only have to put forward 5% deposits on their first home.

Family home tax guarantee

Higher tax is also a key factor in the Conservatives’ manifesto. They claim they will not increase the number of council tax bands with a Family Home Tax Guarantee.

Renters Reform Bill

A Renters Reform Bill will also be put forward to deliver “fairness” in the rental market for landlords and renters. The Conservatives also want to strengthen grounds for landlords to evict private tenants who are guilty of anti-social behaviour.

They also would like to introduce a two-year temporary Capital Gains Tax relief for landlords who sell to their tenants.

Leasehold reform

Finally, the Conservatives would like to continue with leasehold reform and cap ground rent to £250, reducing them to a peppercorn over time.

Summary

So, now you know what the two main parliamentary parties want to do with housing in the UK, who you will vote for?

Labour put up a strong case for change with detailed explanations of all of their policies. Meanwhile, the Conservatives are keen to protect homeowners and landlords and offer more value for first-time buyers using the help-to-buy scheme.

If you have any questions relating to any of the above policies, don’t hesitate to contact us and our friendly team will be happy to help.