Labour's property pledges
What Labour plans for property market
Labour's conference in Liverpool this week set out a broad housing agenda. Buyers, renters, landlords and leaseholders all have something to watch. Here is what was announced, and who it affects.
First-time buyers
Burnham announced the Your First Home scheme, which will reduce deposit requirements for first-time buyers entering the property market. He said it would "open up home ownership to those not backed by the bank of Mum and Dad". Full details are still to come.
Renters and landlords
Standards in the private rented sector were a major theme. Landlords who rent out the worst quality homes will be given warnings to improve them. If they refuse, the government will make it much easier for councils to acquire those homes and will legislate if necessary.
For good landlords, little changes. For those who ignore repairs, the risk of losing the property is now real.
More promises
Councils and social housing
Councils are set to gain significant new powers. They will get the power to take control of empty homes and bring them back into the public housing stock. Burnham also pledged to help councils build on unused public land and to reform Right to Buy. It will not be taken from anyone in an existing home, but will be removed from the new homes councils build.
Leaseholders
Burnham promised to introduce a leasehold reform bill before Christmas. He told leaseholders that "the days of you being squeezed for every penny are coming to an end".
This builds on the draft Commonhold and Leasehold Reform Bill published in January. Under that draft, ground rents are set to be capped at £250 a year, reducing to a peppercorn after 40 years, while new leasehold flats will be banned. Angela Rayner added that, following a public consultation, caps would be applied to permission fees for requests, such as having a pet or changing their own front door, and administrative fees for document requests, such as building safety certificates.
Agents and the property industry
Rayner also confirmed independent regulation of estate agents, letting and managing agents, with mandatory licensing and qualifications. Buyers, sellers, tenants and leaseholders all deal with agents. Higher standards should benefit everyone who does.