The recent election victory for the Labour Party sets the stage for several anticipated changes in the UK housing market. Jason Herbert, Group Managing Director at Doree Bonner International, weighs in on how these policies could shape various sectors, from home-building to property sales and rentals.

Building New Homes

Labour’s commitment to building 1.5 million new homes in the next five years aims to tackle the persistent shortage in housing. This initiative is expected to increase property availability and could help stabilise house prices. Jason comments: “An increase in available housing encourages movement within the market, potentially boosting demand for removal and storage services as more people opt to move.”

Stamp Duty Adjustments

The decision to maintain the stamp duty exemption for first-time buyers at properties up to £425,000 supports young buyers stepping onto the property ladder. However, the uncertainty of extending this relief past March 2025 might affect long-term market dynamics. Jason notes: “Continued fiscal incentives are essential for energising the property market, benefiting both first-time buyers and stimulating secondary moves.”

Support for Renters and First-Time Buyers

Labour’s plans to ban no-fault evictions could lead to greater tenancy security, promoting longer rental periods. While beneficial for tenants, this might deter some from entering the landlord market. “Protecting renters is important, but we must also consider the implications for landlords and the overall health of the rental sector,” Jason suggests.

This proposal to abolish Section 21 ‘no fault’ evictions is particularly significant, as it aims to provide greater security for renters by preventing them from being evicted without a stated cause. This change could have profound implications for landlords, who may find it more challenging to manage their properties effectively.

Additionally, the Freedom to Buy mortgage guarantee scheme is expected to assist first-time buyers significantly. Jason explains, “Support for first-time buyers directly influences the removals industry, as it encourages new entrants to the market, ready for relocation services.”

Eco-Friendly Housing Initiatives

Requiring rental properties to meet an EPC rating of ‘C’ by 2030 signals a move towards environmentally friendly living solutions. This requirement will likely necessitate renovations, which could increase the need for storage solutions during upgrades. “The transition to greener homes may boost demand for storage as landlords update properties,” Jason adds.

Leasehold Reform

The proposed reform to the leasehold system aims to simplify the buying process, potentially making flats, especially new builds, more attractive. “Simplifying the leasehold system could enhance the property buying and moving experience, making these properties more appealing,” Jason observes.

Looking Ahead

As policies begin to take shape under the new government, the resilience of the property market suggests a readiness to adapt to changing economic and political conditions. Home-movers continue to pursue their plans*, bolstered by a more stable market and the supportive services provided by industry leaders like Doree Bonner International.

As the market evolves, so does the significance of selecting a removals company that not only understands the intricacies of the property market but also upholds the highest standards of industry practices. Doree Bonner International’s accreditations with BAR, FIDI, and IAM reflect our commitment to excellence. Whether it’s moving or storage, choosing a company that can handle both aspects under one roof can provide immense value and convenience, ensuring a seamless transition during your move.

This focus on accreditation and comprehensive service offerings underlines the critical role of expert removals companies in supporting both the continuity and growth of the property market. With a robust network and a proven track record, Doree Bonner International continues to be a preferred partner for those navigating the complexities of home moving in changing times.