The latest market insight from London lettings and estate agent, Benham and Reeves, has revealed that public confidence in the Government’s handling of the housing crisis is extremely low, with just 10% of respondents expressing any level of confidence that the right steps are being taken.
The survey, commissioned by Benham and Reeves, asked the UK public to share their views on current housing policy, the priorities they believe the Government should focus on, and whether housing influences their political choices.
The survey found that when it comes to the current Government’s approach to tackling the housing crisis, the public aren’t impressed. 64% expressed they had little to no confidence in the steps being taken by Labour to solve the housing crisis, with just one in 10 expressing support.
When asked which housing policy should be the Government’s top priority, the protection of existing green belt land ranked highest at 29%. This may go someway in explaining a lack of public trust in Labour’s approach given their decision to reclassify areas of green belt into grey belt land for development.
Delivering more new housing stock to meet demand was the second most common choice at 21%, with voters keen to see the imbalance between supply and demand addressed before any further fuel was added to the fire with respect to buyer activity.
However, the Conservative Party’s recent pledge to scrap stamp duty does resonate with voters to an extent, as removing or reducing the tax ranked third in the list of housing policy priorities at 19%.
The research also shows that 64% of respondents consider housing policy to be an influential factor in determining who they vote for, while 42% said they would be more likely to vote for a party that aligns with their preferred housing policies, even if they were not previously aligned with that party, with a further 33% remaining undecided.
Marc von Grundherr, Director of Benham and Reeves, said, “Confidence in the current Labour Government’s approach to housing is at rock bottom, but while the Conservatives’ pledge to scrap stamp duty may sound appealing on the surface, voters are clearly more concerned about the long-term issues affecting supply, sustainability and affordability.
Protecting the green belt and delivering more homes are seen as more pressing priorities than policies designed to stimulate short-term market activity.
Housing remains one of the defining issues for millions of households across the country, and as this research shows, it will be a key battleground for voter support in the months ahead. However, quick-fix pledges designed to grab headlines won’t be enough to win back confidence unless they’re accompanied by genuine progress on housing delivery.”
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