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Labour's pledges to the housing market

 

House-building 

Restore mandatory house-building targets and build 1.5 million new homes during term. 

Green belt 

Take a ‘brownfield-first’ approach and maintain commitment to the green belt. 

First-time buyers 

Introduce a permanent mortgage guarantee scheme and allow first-time buyers to buy homes before international investors.  

Renters 

Overhaul the regulation of the private rented sector, abolish Section 21 ‘no fault’ evictions, and empower renters to challenge unreasonable rent increases. 

Energy efficiency 

Potentially double investment (an extra £6.6 billion) to upgrade 5 million homes. The Warm Homes plan will provide grants and low-interest loans for energy-efficient features such as solar panels, insulation, and low-carbon heating to cut household bills. 

Leaseholders 

Will implement recommendations on leasehold enfranchisement, right to manage, and commonhold made by the Law Commission. Will ban new leasehold flats and guarantee ‘commonhold’ is the default term. Promises to look at ways to further safeguard leaseholders, including addressing "unaffordable" and unregulated ground rent rates. 

Stamp Duty 

Will increase the rate of the Stamp Duty surcharge paid by non-UK residents. 

New towns 

Will build a ‘new generation of new towns’. 

Right to Buy 

Will review the increased Right to Buy discounts introduced in 2012. 

Capital Gains Tax 

Will fix the loophole "where private equity is the only industry where performance-related pay is treated as Capital Gains," but won't impose a Capital Gains Tax on private residences.