The UK property sector has swiftly reacted to Andy Burnham's appointment as Prime Minister, with industry leaders urging him to prioritise housing and economic stability. At a time when millions of people face uncertainty about their living situations, property experts are underlining the need for clear policies and robust funding to deliver a sustainable mix of affordable homes.
Nathan Emerson, Propertymark CEO, welcomed Mr Burnham's premiership, drawing attention to the challenges in providing affordable housing across all regions. He noted that achieving the government's manifesto commitment to build 1.5 million homes across England requires a collaborative effort between the sector and the new administration. Emerson stressed that building well-designed communities with robust infrastructure is crucial, rather than just constructing houses.
Tony Aitken, Head of Planning at Colliers, pointed out Mr Burnham's intention to build record levels of affordable council housing. Aitken suggested that this goal hinges on clear national planning policies, with the eagerly anticipated update to the National Planning Policy Framework (NPPF) likely delayed until after the summer. He also highlighted the need for substantial public funding to support these developments and establish essential infrastructure.
Nick Leeming, Chairman of Jackson-Stops, echoed concerns about housing's top priority status under Mr Burnham. While acknowledging the need to build more homes, Leeming stressed the importance of stimulating existing property sales. He cited research indicating that removing stamp duty costs could bring over 300,000 owner-occupied homes onto the market within a year.
Ryan Etchells, Chief Commercial Officer at Together, cautioned that translating local success into national growth will be an immense challenge for Mr Burnham. Etchells underscored the need for serious attention to infrastructure and housing to drive growth nationwide, warning that the new Labour government faces limited fiscal headroom and upcoming tax decisions could be pivotal for its future.