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Home Ownership
Under the Tories, home ownership is getting further out of reach for more and more people. Numbers of new affordable homes to buy have fallen, and fewer younger people can afford their own home. We will build more low-cost homes reserved for first-time buyers in every area, including Labour’s new discount homes with prices linked to local incomes.
We will reform Help to Buy to focus it on first-time buyers on ordinary incomes. We will introduce a levy on overseas companies buying housing, while giving local people ‘first dibs’ on new homes built in their area. We will bring empty homes back into use by giving councils new powers to tax properties empty for over a year.
Labour will end the scandal of leasehold for the millions who have bought their home but don’t feel like they own it.
We will end the sale of new leasehold properties, abolish unfair fees and conditions, and give leaseholders the right to buy their freehold at a price they can afford. We will introduce equivalent rights for freeholders on privately owned estates.