If Labour get in, will house prices fall?

House prices rose stratospherically under the last Labour government and Labour didn’t care that many young adults could no longer afford to buy a home.

I was interested to read that if all prices had risen at the same rate as house prices, as of 2022 a duvet would cost £1,448, a kilo of bananas would cost nearly £10, and the average UK salary would be £96,579.

https://www.idealhome.co.uk/news/everyday-items-cost-if-matched-house-price-inflation-288496

No, house prices are set by the market, not by government.

Rent control, rental legislation, well, that's something else. But these still don't affect the price of property. Careless policy making will also encourage people to remove their properties from the rental market.

I was referring to second homes that are not being used for long term lets e.g. Airbnb. They don't help people wanting to rent.

Not for those needing to rent.
Selling up is one of the reasons rent prices have shot up.

You need to look who's in charge at the Bank of England not who's in Government. If they cut interest rates chances are house prices will go up as mortgages becomes more affordable. Bringing in any more rent control measures will cause even more landlords to sell up and make it even harder for renters to get anywhere to live.

Nothing much will change under Labour and they will spend the next ten years blaming the Conservatives for why nothing can be changed. Cynical me?

It would be a good thing if second home owners sell up.

I was in my very early twenties in 1989 when the last massive crash happened and 20% was wiped off regular house prices.

But there are always winners in slumps as well as losers.

Labour will not bring in rent controls.

I think people thinking Labour as going to make some socialist utopia are going to be sadly disappointed. There was some quote about how Conservatives stab you in the front but Labour stab you in the back, sums it up for me.

Well, I have no idea. My crystal ball is broken 🙄

This.
The right to buy also decimated council housing.

As a previous LL I can categorically state that I would sooner Air bnb my home than long term let. We never put our rent up in 4 years, it didn’t stop the tenant from not paying and eventually trashing the place.

The lack of rentals will only change if long term investment is made and if in the short term LL’s are supported not vilified.
Trying to force second home owners to let by penalising them rather than making it an attractive proposition will not work. They’ll just sell up.

Huh? How did you get that? Everyone has said no they won’t!

No, it’s about supply and demand, not who is in power.

House prices rose under Brown and Blair and they did nothing to control rents etc., in fact tax credits fuelled house cost inflation. Why would you think Starmer would be any different?

Controlling/taxing Air BnB out of existence would actually be a positive as far as I am concerned...

They blight communities.

I also don't see any issues about rent increase being better controlled a the state of the rental market in this country is appalling.

I am a home owner and I don't see anything wrong with house prices going down either or landlord selling up. It means more people being able to buy their first home.

The obsession with high house prices in this country is ludicrous. Logically if prices go down a bit, so will the cost of your next purchase.

Ultimately I don't think there will be any signifiant fall though as we have a limited supply of housing in this country for a growing population.

Recessions can't be shifted once and for all. They are part of the circle of economy and will always happen after so many years.

No, we won't be poorer under labour. The Tories in name only have decimated this country.

Don't expect a labour government to get it all sorted straightaway. It's going to take years to undo the Tories mess

Rent controls will result in fewer LL’s though as if a btl has a high mortgage and they can’t get enough rent they’ll have to sell.

If government want more housing stock for rental they need to make letting worthwhile in the short term whilst they build up social housing.
Good LL’s are selling up in droves and dodgy LL’s will always be dodgy regardless of the law.

No uk government has previously brought in rent controls and I don't think labour have mentioned it. They might control the number of Airbnbs but that is already happening in some areas and would be a good thing.

Looks like nobody knows

The problem is when you shake off a recession house prices tend to shoot up, which would be shit. I don't see how that could possibly happen but I've thought that before and it did.

No of course not.

Sooner people realise that there’s not much between the Tories and Labour the better. If anything the poor will be worse off.

No. The problem in the UK is that there aren't enough homes that are within reach of many people's incomes.

No. We still have limited housing stock which drives up prices.

Conservatives incompetence has led to more younger people being priced out of home ownership. Rent controls will bring back more potential buyers.

If Conservatives continue then fewer people will afford to have children and to buy so could lead to falls in 30 years time. Plus more likely to be a recession due to money continuing to flow out the country to tax havens.

Recessions don't drive house prices, if anything they stagnate the market, as people have less money to spend.

Recessions do drive interest rate hikes, which in turn make buying a house more expensive.

This is why it's ridiculous to expect a fall in house prices, that generally comes with very high inflation = high interest rates.

There's never a time when house prices are low AND interest rates are low.

People with Airbnb / other holiday let's might but rentals probably not.

The rent restrictions in Scotland and proving to be a disaster. Landlords seriously bumping the rents between let's.

And basically people aren't going to sell for less or much less than they paid for a property.

I doubt it, and house prices falling would be bad for our economy, they will be trying to get us out of recession not put us in one.