A year ago, I asked what the housing market might look like under a Labour Government. Today, we have some early answers — and plenty more open questions.
Keir Starmer entered Downing Street with a commanding mandate, a clear housing ambition, and a pledge that “change begins now.” Yet 12 months in, we’re watching a Government that’s still learning to lead. There’s been movement — some of it positive, some performative, and some plainly stuck in political quagmire.
The hits
Labour’s top-line ambition, 1.5 million homes by the end of the Parliament, was bold. Few believe it will be met, but the market agrees that real groundwork has been laid.
The introduction of the grey belt concept raised housing targets for local authorities, and a more assertive Homes England have started to shift the gears on supply.
The £39bn Affordable Homes Programme and the planned National Housing Bank are weighty proposals, matched by real capital. If they deliver, they’ll reshape the housing landscape — especially for social and affordable housing.
In our world of home movers, conveyancers, and property professionals, that’s encouraging. These aren’t just policies — they’re the early signals of a government trying to unlock pent-up demand, correct decades of underinvestment, and streamline the pipeline from planning to completion.
The tone matters too. This administration has been unequivocal about supporting builders over blockers. That’s good for confidence, and for a sector that often felt side-lined.
The misses
But tone only gets you so far. On Stamp Duty, we’re still in limbo. Labour’s refusal to confirm long-term thresholds has created uncertainty — and that slows decision-making.
For many first-time buyers (FTBs), who are already stretching budgets in a high-interest environment, this indecision isn’t academic.
It’s the difference between action and delay. And the rush created in March by Labour’s decision not to extend the Stamp Duty deadline may have contributed to the overwhelming buyer’s remorse expressed by two thirds of younger first-time buyers.
Then there’s the Treasury. Chancellor Rachel Reeves talks about fiscal discipline, and we understand the need for credibility, but higher employer national insurance (NI) and muted signals on mortgage support haven’t won over business or buyers.
Housing is not just about bricks; it’s about economic stability, predictable policy, and household confidence. Right now, all three feel fragile.
The biggest issue isn’t what Labour has done. It’s what it hasn’t yet followed through on. For every planning reform announced, there’s a delay in execution. For every funding pledge, there’s an unanswered question about delivery.
Local authorities remain unsure how to respond to increased targets. Infrastructure bottlenecks persist. And sector-wide, we’re feeling the drag of political caution – more consultations than action.
What we’ve learned
Keir Starmer himself has often appeared absent from the detail. His international presence is strong; his domestic impact, less so. And in housing, leadership from the top matters.
The social housing sector has seen the most tangible benefit, especially with long-term rent certainty now built into planning. That’s a win. But private landlords are facing tighter margins with rising standards and static incentives. Which has undeniably changed the market, with many leaving and more investing in the North.
Another reason why rental supply, and the legal processes surrounding it, must now be streamlined – not stifled by red tape.
The legal view
From a legal services standpoint, there’s been a clear shift. With waves of sharp increases in remortgages hitting the market this year the sector is shouldering a lot of responsibility and we are taking it upon ourselves to improve what we can before we start pointing fingers.
Rising compliance standards, proposed energy rules, and an evolving regulatory framework mean conveyancers and legal advisers must be proactive – not just to stay compliant, but to give clients the clarity and speed they need in a jittery market.
We’re seeing more shared ownership, more government-backed schemes, and a rise in complex transactions. All of this requires tech-enabled, customer-focused legal delivery – and for our part, Movera and ONP Solicitors are doubling down on both.
What comes next?
Labour’s first year has been stop-start. It hasn’t been a failure, but it hasn’t yet been the transformation many hoped for. There’s still time. But that time needs to be used decisively.
Year two must be about execution. Clear decisions on stamp duty thresholds. Faster roll-out of infrastructure support. Empowered local delivery. And leadership that doesn’t just make announcements – but owns them all the way to delivery.
We’ve got the ambition. Now let’s build the machinery to match it.
Nick Hale is chief executive officer at Movera, a group including ONP Solicitors
