The UK housing Market was a hot topic and top the agenda at last weeks, Labor Party conference where Jeremy Corbyn outlined the parties plan to finally do what no other previous government amid all the promises has been able to do, and that is fix the UK housing market.
This is quite the story of “heard it all before” especially from a political party with a track record of managing the economy and spending, second only to Kim Jong-un’s political diplomacy record.
The party has made it a big part of their UK housing market fix to made considerable changes to the private rented sector in the UK, with plans to bring in landlord licensing, minimum three-year tenancies and an inflation cap on rent rises.
The London market will be given a little more leeway but will in wider terms work under the same guidelines.
REGENERATION AND SOCIAL HOUSING
Jeremy Corbyn has stated in his party manifesto he will back a new extended program of regeneration and the building of more social housing for the UK housing market.
Compulsory purchases and land assembly has been suggested by the Labor party, how this would be implemented at the moment is anyone’s guess, but with 1 million homes in the UK housing market which are vacant, at a time when there is unprecedented pressure on social housing something needs to be done.
The Conservative party has cut back on social housing spending in recent years. Under the same government we have seen sizable increases in the private rental market.
With some much of the UK housing market in certain areas out of reach for first-time buyers could it not the sensible thing to do and return to a more socialist housing policy across the UK.
The real solution is somewhere in the middle between the Conservative policy who both have very different views on free markets, social housing and return on investment.
However you look at it, this is an interesting time for the UK housing market. Change is required but what type of change?
For property investment advice and information, please visit DevDosh Ltd today.