Leading figures in the UK property industry have responded warmly to the ambitious housing pledges proposed by Sir Keir Starmer, Labour party leader. In a bid to address the UK’s housing crisis, Sir Starmer presented his vision at the Labour Party’s annual conference. His long-term strategy, expecting to span two terms in power if elected, underscored a commitment to injecting fresh vigour into the housing sector.
Labour Leader Sets Plans for a ‘Decade of National Renewal’
In his speech, Sir Keir Starmer unveiled significant plans focused on bolstering UK’s housing supply. He pledged to stimulate construction on unused urban land and conceive ‘New Towns’ in proximity to major English cities. His sentiments echoed those of the first Labour government post-World War Two, affirming his dedication to reviving UK’s housing sector and addressing the critical housing crisis.
By committing to develop 1.5 million affordable first homes in urban regions and facilitating construction projects on brownfield sites, Sir Keir aims to reignite the UK’s building industry. The Labour leader also advocated protection of the green belt areas, criticising the Conservatives for neglecting the ‘grey belt’ regions that remained unused in the past 13 years.
He further underscored housing as a pillar for economic advancement, signalling his intention to relax planning laws and promising large-scale settlements on land secured by state-backed companies.
Industry Response to Labour’s Pledges
Property Industry Eye spoke to prominent industry figures, who welcomed Sir Keir’s vision, praising his recognition of an efficient planning system’s vital role and the focus on delivering homes of all tenures.
Melanie Leech, chief executive of the British Property Federation, hailed Labour’s commitment to accelerating brownfield sites’ development, unlocking potentially billions in investment. Nathan Emerson, CEO of Propertymark, encouraged future governments to follow suit in focusing on brownfield land development, especially in areas with high housing demand.
Retirement Housing Demand and Existing Housing Policy
Although various industry leaders underscored the driving need for new housing, Nick Sanderson, CEO of Audley Group, pointed out the necessity for specialist retirement housing. In his view, cultivating adequate conditions for first-time buyers in the property market requires addressing the increasing demand due to the growing older population.
Planning & Environmental Considerations
Claire Petricca-Riding, head of planning & environment at Irwin Mitchell, positively commented on Labour’s plan to create 1.5 million homes in the next parliament session. She highlighted the need for a national strategy to counter the uncertainty in the housing sector caused by the cancellation of HS2, inflation, interest rate hikes, and crumbling local plans.
Roger Mortlock, chief executive of CPRE, was similarly appreciative of Labour’s ‘brownfield-first’ initiative. However, he suggested prioritising the reconsideration of untapped brownfield land before committing to a ‘New Towns’ generation. He also challenged the idea of including scrublands in ‘grey belt’ destinations given their potential to support natural solutions to the climate crisis.
Emphasis on Diverse Housing Options
While expressing support for Labour’s push for more affordable housing, Olivia Harris, chief executive at Dolphin Living, called for greater focus on a range of new homes and not just market or social housing.
Marc Vlessing, CEO of Pocket Living, also urged Labour to follow their ambitious housing pledges with concrete actions, especially given their strong representation in local governments and most cities.
Revamped Green Belt Policy
Labour’s commitment to revamping the green belt policy was hailed as a crucial move in boosting the property sector, especially in London, where 22% of total land is designated as a green belt. The significant stake of property investment and development in future economic growth and prosperity was underlined by industry figures, emphasizing its importance to the UK’s post-pandemic revival.