Labour Conference 2026: Some Encouraging Housing Ideas – But Where Is the Detail?

Having watched the Labour Party Conference this week, I came away with rather mixed feelings.

There were some genuinely interesting ideas on the economy and, particularly, housing. But as someone who has worked in the property market for 36 years, my overriding question remains a simple one:

Will these policies get Britain building, buying and moving again?

That matters because housing isn’t an isolated industry. According to HMRC, around 1.05 million homes changed hands in England and Northern Ireland in 2024/25, and every one of those moves triggers spending well beyond the estate agent’s fee.

When somebody buys a house, they employ solicitors, surveyors, mortgage brokers, removers, builders, decorators, plumbers and electricians. They buy furniture, kitchens, carpets and appliances. Research by the Home Builders Federation estimated that each resale transaction adds around £9,500 to the economy, close to £1 billion of economic output, and more than 11,500 jobs, for every 100,000 moves. TwentyCi values home movers’ wider spending at some £29 billion a year.

Get the housing market moving and a surprisingly large part of the economy moves with it. A successful housing market tends to mean a prosperous economy.

Your First Home – a genuinely useful idea?

The headline housing announcement was Your First Home, effectively a new version of Help to Buy.

The proposal would allow qualifying first-time buyers in England to purchase a new-build home with only a 2.5% deposit, supported by a government equity loan of up to 20%, initially interest-free. Full details are due at the Budget on 28 October.

There is plenty to like here.

The deposit is one of the biggest obstacles facing first-time buyers, particularly those who don’t have access to the so-called “Bank of Mum and Dad”. Anything that genuinely helps younger people into home ownership deserves serious consideration.

It could also give housebuilders greater confidence to start new schemes. That matters because the housing shortage cannot be solved simply by talking about ambitious building targets.

I do have one concern. Why restrict the scheme to only new-build homes?

First-time buyers are an essential part of the entire housing market. Someone buying an existing one-bedroom or two-bedroom flat allows that owner to move up, which allows somebody else to move, and suddenly a chain of three, four or five transactions has been created. In London, much of the housing stock is period property.

A scheme aimed exclusively at new homes may stimulate construction, which is welcome, but wouldn’t a broader scheme potentially stimulate the entire housing market? I think Andy Burnham has missed a trick here.

I’d be interested to hear what other agents, developers, mortgage brokers and first-time buyers think.

And what about Stamp Duty?

Perhaps the bigger question for those of us operating in London and the South East is Stamp Duty.

First-time buyers currently receive relief on purchases up to £500,000, paying no SDLT on the first £300,000 and 5% on the portion between £300,000 and £500,000. Above £500,000, the first-time buyer relief disappears altogether.

That may sound generous nationally. In London it increasingly isn’t.

Recent Zoopla analysis suggested that nearly eight in ten London first-time buyers now pay Stamp Duty, compared with fewer than one in ten across northern England. That tells its own story.

The Chancellor’s Budget is on 28 October, so speculation about SDLT changes remains exactly that: speculation.

But should Stamp Duty reform now be part of the conversation? I’d argue that the Government should at least look seriously at the thresholds.

We shouldn’t forget existing homeowners either. Stamp Duty doesn’t just affect first-time buyers. It can discourage older owners from downsizing and families from moving to homes better suited to them.

Would reducing that friction generate enough additional transactions and associated economic activity to compensate for some of the lost tax revenue? That’s surely worth examining.

Angela Rayner and the “vultures”

One part of the conference I found unnecessarily divisive was Angela Rayner’s language about the property industry.

Announcing regulation of estate, letting and property management agents, she spoke about unqualified and unregulated operators and said that, without transparency or accountability, “vultures can take advantage.”

Let’s separate two issues.

I have absolutely no problem with regulation. I’ve spent my career in this industry and hold professional qualifications myself. Good agents should welcome proper professional standards because rogue operators damage the reputation of everybody. Qualifications, accountability and proper handling of clients’ money are sensible objectives.

But why the inflammatory language?

Most estate agents I know are decent, ordinary people running businesses, employing local people and helping buyers, sellers, landlords and tenants through what can be some of the most stressful transactions of their lives.

Calling people “vultures” – even if the intended target was rogue operators rather than the entire profession – doesn’t encourage constructive dialogue.

There is also an uncomfortable irony.

Earlier this year Angela Rayner appeared at Propertymark One, the annual conference of the professional body representing thousands of property agents. Published reports state that she received £20,000 for the speaking engagement.

That doesn’t invalidate her argument for regulation. Far from it. But surely politicians should be working with reputable professionals to drive the cowboys out of the industry, rather than using language that risks tarring an entire profession with the same brush?

And given the controversy surrounding Ms Rayner’s own Stamp Duty affairs – where she ultimately accepted that additional SDLT was due, before later being cleared by HMRC of carelessness – perhaps property taxation is an area where a little less finger-pointing would be helpful.

I think she would gain more credibility if she were less provocative with her language. It’s simply unnecessary from someone in her position.

Planning remains the elephant in the room

As I mentioned earlier, my biggest concern remains planning.

You can announce as many first-time buyer schemes as you like, but if developers cannot get sensible schemes through the planning system quickly enough, where are all these new homes going to come from?

We see this ourselves. Pre-application discussions that should give developers relatively quick guidance within six weeks can stretch into months – in one case, nearly six months. Every month of delay means additional interest, professional fees and holding costs. Eventually the numbers stop working.

I do believe the Government genuinely wants planning reform. The issue is local government, where the approach must change. Most planning applications start with a “no”, followed by a fight to bring the planning officer round. It bemuses me every time that the conversation doesn’t start with “How can we help to get this through?” I am not saying councils should approve every scheme or disregard the policies that protect their boroughs, but a small change in approach would help significantly.

If Labour genuinely wants economic growth and substantially more housing, planning departments need the resources and more experienced planners. Planning timelines need to improve dramatically.

Certainty encourages investment. Uncertainty kills it.

The wider economy – ambition now needs detail

Chancellor John Healey talked about a “new age of industrialisation”, investment, apprenticeships and fiscal discipline.

But even contemporary analysis of the speech noted that it contained considerably more about priorities than detailed economic policy. Perhaps that’s inevitable with a Budget only weeks away.

For businesses, though, confidence is everything.

• Property developers need to know the tax environment before buying land.
• Landlords need to understand the long-term regulatory landscape before investing.
• Businesses need some certainty about employment costs and taxation before recruiting.
• And homeowners need confidence before committing to a mortgage.

The Budget on 28 October therefore matters considerably more than the conference speeches.

One policy I wouldn’t complain about…

Finally, one slightly selfish observation.

Labour has announced plans to remove the existing legislative barrier to public ownership of water companies and to give government and mayors greater powers to intervene where companies repeatedly fail. That isn’t the same as announcing the immediate wholesale renationalisation of every water company, but it creates a route towards greater public control.

As a fisherman and boater, if greater accountability ultimately means less sewage being discharged into our rivers and seas, I suspect I won’t be the only one welcoming that change.

So, was Labour’s conference positive for housing?

There were ideas worth exploring.

Helping first-time buyers with deposits could make a real difference. Leasehold reform is long overdue, and raising professional standards within estate agency should be welcomed rather than feared. Labour has also promised legislation before Christmas on leasehold reform and stronger regulation of agents.

But announcements are the easy bit. The real tests are much more practical:

• Will Your First Home genuinely create additional homeowners and additional homes, or simply increase demand for a limited supply of new builds?
• Will the Government tackle Stamp Duty and the cost of moving?
• Will planning departments finally be given the resources and direction to make decisions quickly?
• Will regulation improve standards without driving good landlords and businesses out of the market?

And above all: will the Budget give businesses, investors and homeowners the confidence to start making decisions again?

Those questions matter far more to me than conference applause.

I’d be genuinely interested to hear what others in the property industry – and buyers, sellers and landlords – made of the announcements. Was there enough at Labour Conference 2026 to make you more confident about the housing market and the economy, or are you waiting for the Budget before making up your mind?

Nick Goble MNAEA MARLA AssocRICS
Founder and CEO, Noble Estates