Corbyn and Social Housing

The result of the labour leader contest was announced on saturday, against all the odds we saw the selection of Jeremy Corbyn, most commentators and many inside his party are dubious as to whether the right person was selected. This major swing to the left has suprised many, how will it affect those moderates in the Labour party who have just recovered from 5 years of Milliband?  more importantly to those in the property industry  what really are his policies when it comes to housing?

Corbyn made the property market and rising rents central to his election campaign in an effort to connect with people, it seems highly likely he will push for rental controls in the private buy to let market, in fact his  policy on social housing has attracted much support.

Over the last 30 years the social housing sector has been decimated, this has forced more and more people into the private rented sector, this demand has been a factor in pushing house prices higher and higher  as houses are scooped up to supply the buy-to-let sector, first time buyers have been the biggest losers in what can only be called a viscious circle.

At this moment in time any threats from a left leaning labour party will be seen as only timid and will be generally ignored by the property industry, the Tory party will see his election as probably another nail in the coffin of the Labour party and that the euphoria around his election win will die away in the coming weeks, as did that of the SNP who may have a majority up in Scotland but still do not have the voice they wanted in Westminister.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Placemaking around rail is a winning blueprint

The Government has announced that around 40,000 new, high-quality homes will be built on surplus railway land, as the Transport Secretary, Heidi Alexander, unlocks brownfield sites across the country for development. Richard Beresford Chief Executive of the National Federation of Builders (NFB), said: “The Government has a chance to set a new standard in placemaking…
Read More
Rightmove logo
Breaking News

Rightmove: Average two-year and five-year fixed mortgage rates now level

Rightmove’s daily mortgage tracker shows that the current average two-year fixed mortgage rate is currently level with the average five-year fixed mortgage rate.   Both the average two-year fixed rate, and five-year fixed rate are currently 4.52% Prior to July 2025, the last time this was the case was in September 2022 before the mini-Budget…
Read More
Breaking News

UK Homemovers Relocating Over 50 Miles

UK Homemovers Now Relocating Over 50 Miles as Buyers Seek Better Value Beyond the City The latest research by GetAgent Exchange, a platform enabling estate agents to monetise out-of-area applicant leads, has found that UK long-distance movers are now relocating an average of 52 miles from their original location, rising to over 80 miles in…
Read More
Breaking News

Beach hut values soar by as much as 100%

The latest research from over-50s property specialists, Regency Living, reveals that it’s not just demand for bricks and mortar that is pushing up house prices in Britain’s most desirable coastal locations, with the average price of a beach hut soaring by as much as 100% in some seaside towns. High cost of coastal homes England’s…
Read More
Breaking News

Revealed: the most lucrative shared living postcodes

New research from COHO, the HMO management platform, reveals that the shared living market in England & Wales generates an estimated monthly rental income of £1.4bn. But which postcode areas are creating the most income from shared living? How much are HMOs making in your postcode? Find out here COHO has analysed the estimated number…
Read More
Breaking News

Mortgage approvals continue to climb in June

The latest mortgage approval data from the Bank of England figures show that: – Mortgage approvals on house purchases for June sat at 64,167 up (+1.4%) from 63,288 in May. This signals two consecutive months of growth. Approvals are also up (+5.6%) when compared to the 60,761 seen in June 2024. This growth is positive,…
Read More