With just one day until voting day, each of the main political parties has outlined its plans for the country, including for the housing market, with various measures aimed at correcting the imbalance between property supply and demand.
From rental reforms to big numbers around housebuilding, they have each set out rival plans to address the existing housing crisis.
So what are the main political parties proposing when it comes to housing?
The Tories have pledged to build 300,000 homes a year by the mid-2020s, review new ways to support home ownership following Help to Buy’s completion in 2023, scrap Section 21 notices for landlords, introduce a ‘lifetime’ deposit that moves with a tenant, ban the sale of new leasehold homes and restricting ground rents to a peppercorn rent.
The Labour Party has set a target of delivering 300,000 new homes a year, including an extra 150,000 council and social homes annually, introduce a new range of tenants’ rights, including open-ended tenancies, government-funded renters’ unions, and the scrapping Right to Rent checks, give councils powers and funding to buy back homes from private landlords, and mooted the idea of introducing rent controls.
The Lib Dems also want to deliver 300,000 new homes annually, a third of which will be homes social rent, devolve Right to Buy powers to local councils, introduce a new Rent to Own scheme for social housing where rent payments give tenants an increasing stake in the property, owning it outright after 30 years, and increase council tax by up to 500% on second homes.
The Green Party wants to ensure s focused every home in the country is well insulated, as well as deliver at least 100,000 new council homes a year.
The SNP wants to incentives councils and individuals to bring empty properties into use, making them available to rent or buy, as well as restore housing support for 18 to 21 year olds across Britain.
The party aims to increase the number of homes built through market mechanisms, such as easier planning for brownfield sites, and allowing flexibility on other planning areas and the number of affordable homes. But the policy also states it should be made easier for councils to borrow to build social housing.
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