Focus on: real estate

There will be continued focus on increasing housing delivery, with a commitment to build 1.5 million new homes over the lifetime of the next parliament, while prioritising brownfield sites and preserving greenfield ones. There is, however, an intention to take a more strategic approach to greenbelt land, with a recognition that not all greenbelt land is the same and that some lower quality greenbelt may be appropriate for development – known as grey belt land.

The most pressing matter, which is promised within 100 days, will be the revision of the National Planning Policy Framework to undo some of the amendments made at the end of 2023/early 2024. These changes are intended to ensure that all local authorities have adopted local plans. There is also a commitment to a 300 further planning officers in an attempt to help speed up the time taken to secure a planning permission – proposed to be funded by an stamp duty land tax surcharge for non UK residents.

Labour will scrap the feudal leasehold system, ban new leasehold flats and put an end to disproportionate maintenance costs and unaffordable ground rent charges.

They are expected to enact the Law Commission’s proposals on leasehold enfranchisement and right to manage. Commonhold will become the default tenure.

Labour plans to reform the private rental sector, proposing the immediate abolition of section 21 ‘no fault’ evictions and further measures to stop the exploitation of private renters, including preventing bidding wars due to unreasonable rent increases and facilitating higher living standards.