Expert Insights: LPF Members and Industry Leaders on Labour's First 100 Days
The Luxury Property Forum (LPF) is delighted to share that our founder and CEO, Priya Rawal and esteemed members Camilla Dell of Black Brick Property Solutions and Mark O’Callaghan of Echlin, were featured in PrimeResi Journal, alongside other industry leaders, offering their expert commentary on the new Labour government’s first 100 days in office.
This article captures the collective insights of leading property professionals, highlighting key policy priorities that have the potential to shape the future of the market.
After a decisive election win, PM Keir Starmer has introduced a new leadership team and started implementing his manifesto's changes. Angela Rayner (Housing & Communities) is already active, Rachel Reeves (Chancellor) has highlighted financial challenges, and Matthew Pennycook is revising the National Planning Policy Framework. Notable outside experts like Sir Patrick Vallance and James Timpson are also involved.
Housing reforms are a priority, targeting the planning system, private rental sector, leasehold regime, and taxes including Stamp Duty. The general feeling is that the Prime Property industry is optimistic about the new government, though there are concerns about potential punitive measures for luxury properties. Labour's early policy directions are clear, but what do property insiders think?
Prime Resi asked a panel of prime residential industry leaders including Stevan Tennant, Developments Director at Ballymore; Jennie Hancock, founder and director of West Sussex buying agency, Property Acquisitions; Marc Schneiderman, Director at Arlington Residential; Tom Hudson, Head of Estates & Special Projects at Middleton Advisors; Cotswolds property specialist Butler Sherborn; Jerome Lartaud, director of buying agency, Domus Holmes Property Finder; Jimmy Waight, Head of Sales at John D Wood & Co.;Andy Hill, OBE, Group Chief Executive of The Hill Group; James Greenwood of Stacks Property Search; Marco Previero, Head of Research at R3 Location; Simon Vernon-Harcourt, Design & Planning Director at City & Country; Tim Foreman, Managing Director of Land and New Homes at Romans; Dr Ana McMillin, Director of Architecture at Broadway Malyan; Matthew Chamberlain, Director at Ayre Chamberlain Gaunt; Jacqui Pollard, Head of Residential at architecture practice Stride Treglown—what they would do if they were now in charge of the nation’s housing and/or fiscal policy. The responses provide a comprehensive look at the critical steps needed to invigorate and stabilize the property market.
For the complete article and detailed insights, visit Prime Resi. To delve further into expert commentary from our esteemed members, continue reading below.
Addressing the ambiguities of the Building Safety Act 2022 is crucial for the luxury property market
Priya Rawal, founder & CEO of The Luxury Property Forum
“In the first 100 days of the new Labour government, addressing the ambiguities of the Building Safety Act 2022 is crucial for the luxury property market. Clear definitions for dutyholders like Principal Designers and Principal Contractors, along with detailed competency guidelines, are essential to maintain high safety standards and without stifling sector growth. Additionally, clarifying transitional provisions for higher-risk buildings (HRBs) and defining “sufficiently progressed” work will prevent disputes and ensure compliance, avoiding project delays.
“We are still feeling the aftermath of post-Brexit challenges such as rising construction and labour costs, tackling planning resource shortages and trying to maintain investor confidence. Our industry cannot afford bureaucratic setbacks due to lack of clarity. The government must streamline procedures and bolster resources to expedite HRB-related approvals. Further, clear guidelines for mixed-use developments, particularly those combining hotels and serviced apartments, are necessary to ensure uniform safety standards and maintain confidence in the UK’s luxury hospitality and development sector.
“The new government should implement the Building Safety Act with clear guidelines and minimal bureaucracy to ensure the luxury property sector thrives without hindering development. Collectively as an industry we need to support high safety standards, protect our construction companies and sustain robust market growth.”
The whole system needs to be reviewed if the Government wants more homes to be built
Mark O’Callaghan, co-founder of property developer Echlin
“The whole system needs to be reviewed if the Government wants more homes to be built. The current process is far too slow and full of unnecessary hurdles and delays. This has forced many small developers, without the financial back up, out of the market completely, as they simply cannot afford to wait. The current pre application process seems to hinder houses being built whereas it should assist the developer in getting through the hurdles.
“There needs to be a PR shift in town planning in this country, where more is done to facilitate amicable conversations between designers, stakeholders, existing residents, and most importantly, between the generations. Many acknowledge there is a housing crisis and house prices are too high, but at the same time seem to block and frustrate the process where possible. Residents local to these developments should be encouraged to see the benefits of this housing and understand that it is a sign that their area, town or city is a popular place that people want to live. House builders and developers need to be, for sure, held to high standards then as long as they are adhering to policy and delivering the housing need, decisions from the council need to be as swift as possible and councils should be given the required resources. Furthermore, affordable housing contribution needs to be financially feasible and well considered.
“We also encourage planners to be open to more creative ways of developing as long as considerate of surroundings/neighbours. At Echlin we have recently completed an air space development, adding two storeys to an existing building, in Camden which had many advantages in terms of updating the host building and creating more accommodation, improving fire safety and disabled access without needing more land. This could really work well in large cities in the UK where we still have many low built buildings. However the total time from planning to delivery was 5 years when it could be more like 2-3 years with less hurdles and delays. Perhaps the government could also consider cheaper loans to developers for developments such as these as the current interest rates and bank deals have also been a hindrance.
“Meanwhile in an acknowledged housing crisis, large developers and house-builders should not be allowed to land-bank without taxation. Land banking drives up prices and makes it harder for small scale and boutique developers to enter the market and deliver a different kind of product.”
My ideas on housing policy are at loggerheads to Labour!
Camilla Dell, Managing Partner at buying agency, Black Brick
“My ideas on housing policy are at loggerheads to Labour! Whilst I do wholeheartedly agree with their stance on building more homes on the grey/brown belt and forcing local councils to get on an build, I am at odds with many other policies.
“If I was in charge: SDLT – I would reduce SDLT back to more affordable levels. Since George Osborne tinkered with SDLT it’s had the effect of pouring glue into the market, significantly reducing the number of transactions. To get the market moving again, I would abolish SDLT for first time buyers up to £500,000 in London and £350,000 outside of London. I would remove the surcharge on buy to let purchases and incentivise downsizers by offering lower rate of stamp duty. I would re-install mortgage tax relief for buy to let Landlords which as we stated in our July market update has had the effect of unintended consequences by reducing buy to let stock and pushing rents up. To help pay for this I would re-look at council tax bands.”
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