Building affordable homes tops the list of priorities for homeowners and social renters
Only a quarter of voters believe political parties pay significant attention to housing issues, joint research by property website Zoopla and market research firm Ipsos has revealed.
The survey, which explored voters’ housing priorities for an incoming government, also found that half of the respondents disagreed with the statement that there isn’t much governments can do to encourage new home building. Notably, 21% strongly disagreed.
Main political party manifestos aim for 300,000 or more homes per year in England, a target unmet for over four decades. In 2023, home building fell short by 65,000 homes.
Public opinion is divided on funding affordable housing. While 41% support increased government borrowing for this purpose, only 26% favour tax hikes, raising questions about financing future home building amid rising construction costs and stagnant house prices.
Homelessness and rough sleeping are high priorities, chosen by 41% of respondents, followed by reducing the number of empty homes, selected by 39%.
For the rental market, managing private sector rental growth is the top priority, chosen by 33%. Enhancing renters’ rights, particularly concerning evictions and rent increases, was selected by 21%.
Political parties agree on the need for rental reforms, but proposals to control rental inflation are absent in England due to the potential impact on new housing investments. Rental inflation for new leases is slowing, currently at 6.6%, and is expected to fall below earnings growth in 2024.
Support for first-time buyers is also a priority, with 33% indicating its importance. First-time buyers often struggle with deposit requirements, necessitating family support. The average household income needed for first-time buyers is currently £60,600.
Building affordable homes tops the list of priorities for homeowners and social renters, followed by tackling homelessness and rough sleeping, while increasing housing benefits for low-income renters ranked third among social renters.
For private renters, controlling rent increases is the primary concern, followed by building more homes and enhancing renters’ rights and protections.
“British voters have high expectations from a new government on housing,” said Richard Donnell (pictured), executive director at Zoopla. “The overarching response is ‘build more homes, but other things matter too’.
“It is clear voters are well aware of the pressures on the housing market with reducing homelessness and rough sleeping and doing more to reduce empty and under-utilised homes in the top three priorities.
“Building more homes has the potential to start addressing many of the priorities identified in our survey with Ipsos. We have been getting closer to the 300,000 homes a year level, but breaking through will require need a big political push to deliver the homes the nation needs across all housing tenures.”
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