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Political party round-up on priorities for housing market

by: Edward Murray
  • 23/05/2017
  • 0
Political party round-up on priorities for housing market
The housing market will be a central consideration for many voters in the forthcoming general election and the result will have an impact on the demands put on the construction and mortgage industries for years to come.

The Conservative Party has pledged to meet an existing commitment to build a million homes by the end of 2020, with a further 500,000 by the end of 2022. It has also said fixed-term social houses will be built and sold privately after 10 to 15 years with an automatic right to buy for tenants.

The Liberal Democrats have said they will build 300,000 new homes by 2022, including direct building by the government.

They want to create at least 10 new garden cities in England, with the aim of providing tens of thousands of new zero carbon homes.

In addition, the Lib Dems manifesto said the party would set up a new government-backed British Housing and Infrastructure Development Bank with a remit including providing long-term capital for major new settlements and to help attract finance for major house building projects.

For its part, Labour is working on a “state-backed mortgage scheme” that would help young adults buy a home.

The party has already pledged to make housing one of its key messages in the build-up to the 8 June vote.

It has promised to build over a million publicly funded new homes in five years, with at least half a million being council homes.

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