2nd
Aug 2024
Nearly half of UK landlords – 43% – are feeling very positive that with Labour now in power it will be a boost for them according to a survey held by a finance broker.
The survey also found that just over a third of landlords (34%) believe the election victory will turn out the worst for them whilst nearly half of landlords (48%) believe a Conservative win would have been far better for them.
The findings from the finance broker’s survey shows the differing views of the landlords of Labour being in power which include optimism, trepidation and uncertainty.
The 43% of landlords who are positive in the election result hope Labour will concentrate on tenant protections and housing reforms which will deliver a level playing field for renters.
A landlord who has been in the sector for over 10 years said: “Generally, I’m happy about Labour winning, although I do have concerns about their policies for second home and inheritance tax.
“I understand the concerns of other landlords about how the new government might impact them.
“But, landlords were already feeling the need to leave the market under the Conservatives.
“There’s uncertainty about how Labour will handle the rental market, but I’m willing to give them a chance right now.”
Those landlords who said they have serious misgivings about Labour’s win are concerned over how it handles the abolition of Section 21 eviction powers.
They are also concerned about the very probable capital gains tax increases and about the government’s lack of detail of its housing policies; however many of the landlords hope Labour’s target of 1.5 million new builds over the next five years will include buy-to-let opportunities.
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