Nearly half of UK homebuyers are confident that Labour will deliver on its pledge to deliver more homes, research from Market Financial Solutions has revealed.
The research, which surveyed 2,000 UK adults, found just 46 per cent of buyers believe the Labour government will deliver on its promise to “get Britain building”.
Moreover, just 47 per cent feel Labour’s first year in power has brought more stability to the housing market.
This is in contrast to last year when 57 per cent said they were confident of the election bringing stability.
Market Financial Solutions CEO, Paresh Raja, said: “Improving the UK’s housing supply featured prominently in Labour’s election campaign last year — and it remains a key focus for the party now it’s in power.
“But our research shows that the public’s confidence is fading, and you can understand why, given successive governments have made bold housebuilding targets and missed them by wide margins.
“From investment into new homes through to planning system reform (including the use of AI), Labour’s first year in power has featured plenty of eye-catching promises.
“But now is the time for delivery. When parliament reconvenes after its summer recess, it’s clear that UK homebuyers want to see rhetoric turn into decisive action that addresses the imbalance between supply and demand, creating a fairer and less fiercely competitive market.”
The study revealed 61 per cent of UK homebuyers believe the property market is too competitive, while 65 per cent think the house-buying process is too slow and complicated.
Almost two in three (58 per cent) homebuyers said there is a shortage of the kind of property they would ideally like to own, while 65 per cent said they find getting a mortgage “stressful”.
Looking ahead, 62 per cent said they believe that UK house prices will rise in the next 12 months.
tom.dunstan@ft.com
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