Labour leader Sir Kier Starmer has told his party conference that buy to let landlords will no longer “get in first” ahead of local people buying homes.

In a wide-ranging speech to delegates in Liverpool, Starmer gave few details of what that proposal actually meant, but he said: “Buy to let landlords and second home owners will not get in first in front of local communities.”

The leader said Labour was now “the party of home ownership” and that he was setting a target of 70 per cent of homes being owner-occupied by the end of a Labour government’s five year term.

Under the current Tory government, by contrast, he said: “The dream of owning your own home is slipping away”.

He continued: “And that’s a political choice. Because if you keep inflating demand without increasing supply house prices will only rise and homes become less affordable for working people.” 

Therefore he told delegates that Labour would set up a mortgage guarantee scheme skewed to help first time buyers get on the ladder, as well as increasing the supply of affordable homes for rent and to buy.

Earlier in the conference, shadow housing secretary Lisa Nandy said she was committed to making social housing move up to become the second largest housing tenure in the UK; currently it is third, behind the private rented sector, which itself trails owner occupation. Matched with Starmer’s pledge, this suggests that Labour wants a reduction in the buy to let private rental sector.

Much of Starmer’s 55 minute speech today was given over to the economy, with the key proposal being the creation of a state-owned company – GB Energy – to provide additional energy capacity alongside the private sector, and to set up the UK as “a clean energy superpower and guarantee long term energy security.”

He said Labour “will make sure that the public money we spend building-up British industry, spurs on private investment, stimulates growth… and the British people enjoy the returns” adding that: “Labour won’t make the mistake the Tories made with North Sea oil and gas back in the 1980s, where they frittered away the wealth from our national resources.”

The remaining key points from the Labour leader included a repeated phrase that there must be a “fairer” and “greener” and “more dynamic” economy, with an emphasis on defeating the cost of living crisis and working as a partnership with business to create jobs and long term sustainable economic growth. The NHS would receive 7,500 extra medical students each year under Labour, and enjoy 10,000 extra nursing placements.