Speculation is rife within Westminster over when Rishi Sunak will call the next general election. As inflation soars and Labour stay ahead in the polls, will the prime minister opt to go early or hold out?
When the country does finally head to the polls, it’s likely housing will be a key policy battleground.
With rents at a record high, and warnings of a mortgage “timebomb”, politicians will try and win over voters with their plans to ease the crisis.
In recent years, housing has proved a thorny issue for the government with major infighting over issues such as planning and building targets.
Labour is seeking to capitalise on this by positioning itself as the new party of home ownership, but has its own internal battles over policies such as rent control, and Right to Buy.
So what are the key issues and where do all the main parties stand?
Housebuilding
For years now, the UK has not built enough homes. The government is set to miss its target of building 300,000 new homes a year in England by the mid-2020s, a figure it has never achieved.
Last year this target was made “advisory”, and the government was accused of watering down building aspirations to appease backbenchers in Tory heartlands.
At a recent PMQs, Starmer accused Sunak of overseeing a “collapse” in housebuilding and shattering the home-ownership dream for young people.
Labour has said it would re-introduce mandatory housing targets and in another divergence from the Conservatives, would build homes on the green belt “where appropriate”.
As for the Lib Dems, at the party conference in 2021 the party committed to a national target of 380,000 new homes per year. Lib Dem MP Layla Moran recently told GB News 150,000 would be social homes.
The party’s leader Ed Davey has also expressed for “community-led approach” to building rather than developer-led housing.
Meanwhile the Green Party produced a charter earlier this year which included a commitment to building 100,000 new council homes a year to high environmental standards. It also promised to reform the planning system to make it easier to refurbish existing homes.
Mortgage timebomb
One of the most pressing issues in housing is the mortgage crisis as climbing interest rates send many homeowners’ repayments soaring.
The situation is expected to worsen in the coming months as more customers on fixed mortgages come off their deals and are forced onto higher rates.
Chancellor Jeremy Hunt has struck a deal with banks to agree that mortgage holders struggling with repayments will be able to switch to interest-free payments and could be given a 12-month grace period before repossessions begin.
Labour’s shadow housing secretary Lisa Nandy recently told Sky News significant numbers of people will not be able to access any support because of their voluntary nature. She also said Labour would tackle to root of the “affordability crisis” by building more homes.
Lib Dem leader Ed Davey has called for an emergency "Mortgage Protection Fund" giving £300 of support to struggling families at risk of losing their home this year. It would be paid for through reversing Conservative tax cuts to the banks.
The Greens said the party supports requiring banks and building societies to help their customers through this difficult period with extended terms and payment holidays, but said it was vital more attention was put on tenants in rental properties.
Rent controls
The government is bringing in a package of measures to improve the private rented sector, including banning controversial “no fault” evictions. However, amid soaring rents and a severe supply squeeze, politicians are coming under pressure to do more to address affordability.
London mayor Sadiq Khan and Manchester mayor Andy Burnham have called for rent controls to curb increases, but have been rebuffed by the government.
Labour’s Lisa Nandy previously expressed support for the idea, but recently backtracked. Speaking at a housing confernece in Manchester last week, Nandy said the measure was a “sticking plaster” and could make more people homeless.
The Greens have said they would introduce an “immediate rent freeze and eviction ban” to prevent people being made homeless in the middle of the cost of living crisis. Longer term, it would give councils the power to bring in rent controls in areas where the housing market is overheated.
Social housing
A significant majority of Conservative voters think more social housing should be built in the UK, according to YouGov polling carried out for the i newspaper.
The government has invested £11.5bn in its Affordable Homes Programme, but its targets only allocate 33,550 homes for social rent.
Nandy has said Labour would "restore social housing to the second largest form of tenure," and has previously promised a large council housebuilding programme though details on this are vague.
The shadow home secretary said recently the party still supports Right to Buy, which gives council tenants large discounts to allow them to purchase their homes. There have long been calls from the left of the party for the policy to be abolished, but Nandy said the focus would be on replacing the homes sold off.
Meanwhile, the Greens have prioritised building social housing, pledging to create 100,000 new homes a year through low carbon construction and retrofitting, converting and extending existing buildings.
The party also said it would reform the current Right to Buy Programme and instead allow councils to “set discounts locally and retain 100 per cent of receipts to reinvest in new and existing homes”.
