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

Who are Rentd
Letting Agent Talk

Renters (Reform) Bill Dropped – Thoughts from the Industry

The Renters (Reform) Bill has been dropped as a result of the general election being called. Here are some thoughts from within the property industry. Ben Beadle, Chief Executive of the National Residential Landlords Association: “It is hugely disappointing that this Bill will not now make it into law. The news comes despite the fact that…
Read More
Estate Agent Talk

July 4 General Election – Thoughts from the Industry

Prime Minister, Rishi Sunak has called a general election for July 4, 2024, citing now being the time for the people of Britain to choose the next government. Here are some thoughts from within the property industry. Tim Bannister, Rightmove’s property expert: “A look back at recent elections shows that house prices and activity usually…
Read More
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker

Matt Smith, Rightmove’s mortgage expert said: “Today’s inflation drop feels like an important milestone on the road to the first Base Rate cut. There’s been some to-ing and fro-ing over whether we’ll see a summer Base Rate cut, but today’s news will likely reinforce some of the positive words coming from the Bank of England…
Read More
Estate Agent Talk

Rayner right to be ambitious on housebuilding

At UKREiiF, Angela Rayner, Shadow Housing Secretary made several commitments to help solve the UK’s housing crisis including new towns, greater numbers of affordable housing, a return of housing targets and a clear design code criteria. Richard Beresford, Chief Executive of the National Federation of Builders (NFB), said: “Although election season is the time for…
Read More
Breaking News

Comment on Land Registry’s House Price Index showing an annual rise of 1.8%

Commenting on Land Registry’s UK House Price Index showing an annual rise of 1.8%, Daniel Austin, CEO and co-founder at ASK Partners, said: “The property sector is recovering. Rent values have seen sustained growth, positioning real estate as reasonably valued in comparison to gilts and presenting growth potential. In the realm of commercial real estate,…
Read More
Breaking News

Breaking Property News – 22/05/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Sunak calls General election for 4th July 2024 – American Independece Day Many pundits feel that post the General election Rishi Sunak will fly off to Silicon Valley, so maybe holding the General election on American Independence Day is no coincidence! The real carnage…
Read More