Prime Minister Andy Burnham has proposed a new scheme to allow first-time buyers in England to purchase a new-build home with a 2.5% deposit, along with plans to let councils intervene sooner when homes stand empty, and a £210 million package to bring disused high street buildings back into use. Propertymark’s Policy and Campaigns Team is at the Labour Party conference to discuss these announcements directly with MPs and explain how members and their clients could be affected.

The proportion of owner-occupiers has changed little over the past decade and remains below its 2003 peak, while high prices, large deposits, and a weak development pipeline continue to restrict access for first-time buyers and suppress mobility for those already on the property ladder. New planning rules may help, but government and industry evidence supports Propertymark’s position that wider reform is needed across housebuilding and the buying and selling process to restore adequate supply and revitalise the market.

Findings from the Housing, Communities and Local Government Committee inquiry into the affordability of home ownership have revealed that the home-buying and selling process is a painful experience that reduces motivation to move and slows down the housing market. These findings closely reflect our evidence and support our consistent calls for improvements for consumers and agents.

Scotland’s First Minister John Swinney has pledged £10,000 grants to help first-time buyers onto the housing ladder if the SNP is re-elected on 7 May. While the move signals recognition of affordability pressures, Propertymark believes broader action is still required to address the root causes of the country’s housing crisis.

The Financial Conduct Authority (FCA) has confirmed a wide-ranging review of mortgage rules to support sustainable home ownership while ensuring standards of consumer protection remain high. The reform signals positive change on the horizon for first- and last-time buyers, self-employed people, and vulnerable customers, who may have experienced limited access to borrowing under the current rules.

The English Housing Survey (EHS) for 2024-25 provides a detailed picture of how people across England are buying, renting and coping with rising housing costs. For Propertymark members, the findings highlight important shifts in first-time buyer behaviour, demand in the private rented sector (PRS), and growing affordability challenges — with London continuing to stand apart from the rest of the country.

Propertymark has responded to the Welsh Government’s Draft Budget for 2026–27 with a warning that without tax reform, the continued loss of landlords will deepen affordability issues for tenants and increase pressure on local authorities to house more people in the social sector. A vibrant private rented sector (PRS), alongside investment in social and affordable housing, is essential to meet demand and ensure all people in Wales have access to decent and secure homes.

The Housing, Communities and Local Government Committee has launched an inquiry into how schemes such as Stamp Duty relief, ISAs, mortgage guarantees, and rent payment history in mortgage decisions affect first-time buyers. It will also consider the effectiveness of Lifetime ISAs, 95% mortgages, Shared Ownership, and the impact of the Renters’ Rights Bill and the Leasehold and Commonhold Reform Bill.

In a significant policy announcement on 15 July 2025, Chancellor Rachel Reeves, MP, unveiled plans to enhance homeownership opportunities across the UK by providing government backing to lenders who offer mortgages with deposits as low as 5%. By making this scheme permanent, the UK Government aims to stabilise the housing market and assist more people in becoming homeowners.

The Department for Communities (DfC) wants to boost homeownership and support 4,000 households purchasing homes over the next four years. The latest funding will also enable 1,200 new builds to expand the much-needed housing options for first-time buyers.

The Welsh Government has committed £90 million in low-interest loans to Registered Social Landlords (RSLs) to support the delivery of affordable housing and improve existing homes across Wales. The funding aims to help RSLs manage the rising borrowing costs while ensuring the continued development of much-needed affordable homes. The latest round of loans will contribute to the delivery of 277 new homes, with 119 expected to be completed within the current Senedd term.

The UK’s first female Chancellor of the Exchequer, Rachel Reeves, MP, delivered the first Labour Budget for 14 years on 30 October 2024, announcing tax increases worth £40 billion. Whilst agents will be relieved not to see a hike in Capital Gains rates, it is disappointing that the reversal of Section 24 and support for property owners to meet Minimum Energy Efficiency Standards have been overlooked. It is also a missed opportunity to give structured support to first-time buyers and downsizers to boost consumer confidence.

The property expert and MoveiQ founder has agreed with the proposals we submitted in our Autumn Budget representation. This Budget offers Chancellor Rachel Reeves MP a real opportunity to promote much-needed progress in the sector. Her decisions regarding SDLT reform, support for first-time buyers and energy efficiency, and the clarity she provides on landlord taxation, will be crucial in determining the future direction of the UK housing market.

Lloyds Banking Group has announced an injection of £2bn to help prospective homeowners secure mortgage funding. An improved loan-to-income multiple will allow eligible first-time buyers to borrow up to 5.5 times their annual household income.

In a speech designed to remind voters of her economic pedigree and credibility to manage the economy, Shadow Chancellor Rachel Reeves announced her intention to increase the Stamp Duty surcharge for overseas buyers.