Burnham's Housing Vision: Property Sector Scrutinises Potential PM's Policies
Andy Burnham's rise to the top of the Labour leadership race has sparked intense scrutiny from the property sector about his potential policy priorities for housing markets, development, and the private rented sector. As Mayor of Greater Manchester, he oversaw a 63% increase in house prices over the past decade – more than double London's 7% rise.
His strategy links infrastructure investment directly with housing development, citing projects like Victoria North and Mayfield as successes. Burnham advocates for devolving planning powers to city regions and has pledged to reinstate the Manchester leg of HS2, signalling a regional-led approach to development.
The private rented sector is another area where significant changes are likely. As Mayor, he increased landlord fines by 43% and called for rent controls. He also backed grants up to £30,000 for landlords to enhance energy efficiency in properties and supported the Good Landlord Charter, indicating a dual focus on tenant protection and property standards.
Property taxation is under scrutiny, with Burnham having expressed interest in replacing Council Tax and Stamp Duty with a Land Value Tax. He has also championed ending new leasehold sales and strengthening protections for existing leaseholders, suggesting a broader reform agenda for property ownership structures.
Industry figures have offered varied responses to his potential policies. Verona Frankish, Chief Executive of Yopa, believes a Burnham government would focus on increasing housing supply and improving affordability through greater investment in infrastructure and local economies beyond London. However, Sián Hemming-Metcalfe, Operations Director at Inventory Base, raised concerns about the cumulative impact of regulatory interventions, highlighting landlord fines and calls for compulsory purchase powers.
Jeremy Leaf, a North London estate agent, questioned Burnham's stance on landlord regulation, citing his own experience in the sector. While some see Burnham's policies as a positive shift towards more affordable housing and greater regional investment, others fear the cumulative impact of increased regulations and taxes on property owners and developers.
With Burnham's leadership prospects continuing to grow, the property sector is watching closely for signs of policy clarity and consistency. As one industry insider noted, 'The devil will be in the detail – we need to see how he would put his policies into practice.'