As the 2024 election approaches, discussions about pledges, policies, and promises are widespread. The Conservatives have emphasised their message of “the plan is working,” citing the reduction of inflation from 9.6 per cent in October 2022, following Liz Truss’s tenure and “mini budget,” to 2.8 per cent. However, many voters remain sceptical, pointing to the government’s shortcomings in addressing NHS waiting lists, migration numbers, and the rising prices of basic goods.
In contrast, the Labour Party is campaigning on a single word – “change”. Since the last election, the country has faced numerous challenges, including Covid-19, lockdowns, Partygate, and has had three Conservative leaders. Labour is promoting a vision of change from the instability they attribute to the current government, with parallels drawn to Tony Blair’s “Things can only get better” campaign.
Despite their strong lead in the polls, Labour is strategically keeping tight lipped on certain policy discussions, such as planning, to avoid alienating potential voters in rural Tory strongholds, where Labour has realistic chances of winning and where anti-development sentiments are more prevalent. Housing targets put forward by Labour appear popular amongst the more youthful voters, as the current housing crisis cripples their chances of accessing the property ladder. Renting has become more financially viable than home ownership amidst soaring mortgage rates, which the Labour Party are intending to keep as low as possible.
Part of Labour’s proposal for achieving targets of 1.5 million new homes by the next parliament includes the release of the ‘grey belt’. Under new ‘golden rules’, councils will be required to prioritise building on brownfield sites and poor-quality areas in the green belt, dubbed the ‘grey belt’. They also aim to build new towns, which will form part of a series of new communities across the country. These fulfil the promise of effective housing plans where sheer scale will aid the viability for more affordable homes. The locations of these new towns will be decided by the end of their potential first year in power.
The Conservative Party, building on their mantra for continuity, has pledged to build 1.6 million new homes, but does not have the same set local targets as their opposition. Conservative plans to improve the planning system via fast-tracking housing developments on brownfield sites with design codes would favour “new family homes and mansion-blocks on tree-lined streets built in the local character”.
Although evidence may suggest that it is somewhat futile to even consider the other Parties in this upcoming election, the Liberal Democrats have also made many pledges in relation to housing and real estate. Again, focusing on the planning process as one of the main issues in the sector now, the Party promises proper funding for local planning departments and a “use-it-or-lose-it” scheme for planning permission. These improvements are intended to increase access to housing to meet everyone’s needs and facilitate the building of at least 380,000 homes a year; the most of any party.
As far as Reform is concerned, there are few policies concerning housing in the manifesto. Fast-track planning and tax incentives are set to ensure that people can own their own home, alongside a loose-fit planning policy for larger residential developments. There is, however, no talk of exactly how the Party will incentivise innovation to speed up the building of housing developments. It may well be a concern that without specific housing target set out by the Party, sufficient housing for the demands of communities may not be met.
Ironically, the Greens were the only Party with housing policy taking centre stage in their manifesto and identifying the affordability of homes as a primary concern. They are promising 150,000 new social homes a year, facilitated by the refurbishment of older housing stock and ending individual ‘right to buy’. Keeping social housing for local communities in perpetuity is a main objective, with the development and investment in health and transport infrastructure to accompany progression in housing stock.
All parties have now mentioned housing and planning, but have stopped short of promising us the planning revolution some of us were hoping for. Yet it is also worth asking where the funding will come from for those plans that have been promised. With Labour and the Conservatives ruling out rises in VAT, income tax, national insurance etc, there is a strong assumption that these developments will be undertaken by private investors left to their own devices. With the proportion of people identifying housing as a top concern more than doubling in the last four years, there has never been a more opportune time for radical change within the housing sector. Perhaps we will have to wait until after the election for more groundbreaking policy, but I won’t hold my breath.