With the general election on Thursday 8 June looming closer and closer, now is a good time to compare and contrast what is being pledged by the three major political parties on real estate.

The overall message is that we need more housing and fast, but how do each of the parties plan to deliver this? And what other policies have been pledged on topics like infrastructure and planning? Below is a snapshot of what is being offered.

Conservatives

  • 'Better houses, to match the quality of those we have inherited from previous generations';
  • Conservative government pledge to meet their existing commitment to build a million homes by the end of 2020 and a further 500,000 homes by 2022;
  • Fixed term social housing to be built and sold privately after 10-15 years with an automatic right to buy for tenants;
  • 'To reinvest in local infrastructure, essential services and further housing';
  • Importance placed on providing infrastructure, parks, space, building design and on reform of CPO rules.

Labour

  • 'Labour will not only build more, we will build better';
  • 'First dibs on new homes built in their area' and focus on building homes for ownership;
  • Labour party plan to build over a million more homes with at least half for social rent;
  • Ban on letting agency fees for tenants;
  • Promise to deliver biggest council building programme for a least 30 years;
  • Importance placed on UK infrastructure, industry, connectivity by rail and road.

Liberal Democrats

  • Pledge to build 300,000 homes every year by 2022 as part of £100 billion package of infrastructure development;
  • New 'rent to own' scheme where rent payments go towards eventual ownership;
  • Creation of at least 10 new garden cities in England with 'tens of thousands of high-quality new zero carbon homes, with gardens and shared green space, jobs, schools and public transport';
  • Government backed tenancy deposit loans for first time buyers under 30;
  • New British Housing and Infrastructure Development Bank to provide finance for major house-building projects and new settlements.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.