What are the Party Policies on Housing? – 2015 General Election

Posted : 20/04/2015 | By Hayley Cowburn

In the run up to the general 2015 election, everyone's trying to get their head around where each party stand on key issues, what they promise and what is likely to come to fruition. Housing is now thought to be one of the most central issues in the election debate and has been afforded a number of large pledges from different parties. See a summary of these pledges in the infographic below.



House Building
Ambitious house building targets have been set by parties such as Labour and UKIP each targeting 200,000 homes, and the Liberal Democrats aiming for 300,00. Other parties which set no such figure such as the conservatives and Greens who suggest that housing targets should be determined by local authorities. They do however specify targets for affordable homes; 275,000 (Conservatives) and 500,000 (Greens) by 2020. The development of Garden Cities has also become a popular action due to the national housing shortage.

Help to Buy
Many politicians and economists insist that this scheme needs review. Under a Labour government, Ed Miliband says that savings from the help to buy ISA introduced in the budget last month would be used to fund house building. By harnessing £5bn from the ISA, Miliband expects 125,000 new homes to be built over the next five years. The conservatives still plan to contribute up to £3000 from the government for first time buyers under the scheme (£50 top up per £200 invested in the ISAs).

Rent and Tax
Rent caps are sought by both Labour and the Green Party. Labour want market rent followed by ceiling on rent increases over 3 year tenancies. The Greens ask for rent to be initially capped to inflation and for a Living Rent Commission to examine more stringent proposals. The party also calls A “Mansion Tax” is also supported by Labour, the Liberal Democrats and the Green Party.

Empty Homes
Whilst the conservatives plan to continue with their current policies to reduce the number of empty homes, Labour ask to double the council tax charges for properties which have been empty for over a year. UKIP also want to double the council tax on empty homes but only after 5 years of inoccupation, and for a council tax waver for landlords who bring empty homes back into use.

The Next Government
As the polls are running the closest they have ever been in decades, no one cannot predict with any certainty who will become Prime Minister in May. Perhaps despite who comes into power the UK housing market will improve. With pledges to build hundreds of thousands of new homes by 2020, the house-building market looks set to continue improving on huge drops of 2008/9. Improving housing accessibility and schemes for first time buyers may also improve the housing market itself, but with the risk of increased prices if the demand becomes ever higher than the supply.

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