NRLA welcomes promise to boost home supply by Labour

NRLA welcomes promise to boost home supply by Labour

0:03 AM, 10th October 2023, About 7 months ago 8

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The National Residential Landlords Association (NRLA) has welcomed plans by Labour to boost the supply of homes in the UK should it be returned to power.

Shadow Chancellor Rachel Reeves had told the Labour Party conference in Liverpool that the party would ‘rebuild Britain’.

That would see the speeding up of the planning for critically important infrastructure and creating a fast-track planning process for factories, laboratories and homes.

Labour would also introduce clearer national guidance for developers when engaging and consulting with local communities and speed up planning decisions with 300 new planning officers – paid for by raising the stamp duty surcharge on non-UK residents buying property.

‘Only way to address the housing crisis’

The NRLA’s chief executive, Ben Beadle, said: “Labour is right that the only way to address the housing crisis is a significant increase in the supply of homes.

“But this also needs to include new homes for private rent.

“With 25 would-be tenants enquiring about every available home to rent, tenants are crying out for new rental housing now.

“Private rented housing provides one of the best springboards into homeownership, whilst landlords are well placed to help bring the almost quarter of a million long term empty homes back into use.”

‘Best way to improve choice and affordability’

Mr Beadle continued: “Increasing supply is the best way to improve choice and affordability, and doing so would substantially boost Treasury revenue.

“Scrapping the stamp duty levy on homes to rent would see 900,000 new private rented homes made available across the UK.

“This would lead to an additional £10 billion in revenue as a result of increases in income and corporation tax receipts.”

He added: “The Party should accept the recommendations of the Labour-led Housing Select Committee to reform the tax system to support the provision of more homes to rent.”


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Comments

Paul Essex

8:58 AM, 10th October 2023, About 7 months ago

There is little enough green belt left around Cambridge and with the house prices there I cannot see these being 'affordable' in any real sense.

Rather than cramming more houses into ' successful ' areas it would be much better to encourage industries to relocate to where housing is affordable.

Judith Wordsworth

10:00 AM, 10th October 2023, About 7 months ago

And what about Labour proposals to remove s21, further landlord regulations, capping rent etc etc?

Reluctant Landlord

12:03 PM, 10th October 2023, About 7 months ago

Affordable is 80% of market rate. Social rent is anyting below this.

At what point do Labout thing that top eco insulated homes butil to current regs, in areas where people want to live with enough room to swing a cat is going to be in any way affordable at all?

Oh and is this going to all be built on the wave of a magic wand? This is YEARS away if ever. You can reduce planning requirements to fit on the back of a stamp if necessary - but you still have to find a developer willing to bother releasing land, wnating to be in cahoots with Labour and to also source labour to do the work.

Their speach should be plated on CBBC's as a bedtime funny STORY!

Dennis Leverett

13:33 PM, 10th October 2023, About 7 months ago

It's about time that all politicians are made legally responsible for any promises made in any election manifesto that aren't carried out during the span of their reign, and be obliged to state where the finance is coming from. Then we may have a more "real" understanding of the future. If a business went to a bank for a loan with ridiculous promises they would be chucked out. The whole world has gone mad.

C-cider

16:17 PM, 10th October 2023, About 7 months ago

Great words and possibly the right answer but first we need to tackle immigration as otherwise, we will never have enough houses.

C-cider

17:31 PM, 10th October 2023, About 7 months ago

Reply to the comment left by Judith Wordsworth at 10/10/2023 - 10:00
Both major parties are looking to scrap S21. I think even the ‘also rans’ propose its abolition. It will happen.

Building more homes is needed for a ‘blossoming’ population. The building could easily be funded through Housing Benefit savings.

Of course, we don’t have the materials nor the manpower to deliver 1,500.000 homes. We should build homes from more sustainable materials. Many of the terraced homes built in the 19th century are no longer fit for purpose yet the buildings could last another 200 years.

Darren Sullivan

21:31 PM, 10th October 2023, About 7 months ago

I don’t trust Labour they will attack landlords like the pub industry has been decimated. Small private landlords will close like the small pub. Your hard work and frugal living will be ripped away to fund the lazy masses in the UK.

Michael Booth

11:31 AM, 11th October 2023, About 7 months ago

Has usual liebor promises, ready to be broken , usual vested interest, we live in a free market economy and intervention and compulsion does not and never works has they will find out if they achieve power .

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