t: 0333 3447850e: hello@redkeylets.co.uk
    Get a Valuation
    Register/Report a repair
    LogoLogo
    • Testimonials
    • Blog
    • Contact

    Branch Details

    Our Branch

    21 Bridge Street, Newport, NP20 4AN
    e: hello@redkeylets.co.uk
    t: 0333 3447850
    Newport Area Guide

    Looking to buy or sell?

    Please visit our sister branch,
    Fortis Properties

    Out of Hours Emergency

    An emergency repair would include issues that need to be fixed as soon as possible. Examples would include: burst pipe/flood, fire, vandalism, broken locks, blocked drains, blocked toilet and no heating/hot water. Anything that would be a danger to your health and safety or likely to cause damage to the property.

    In the event of an emergency during a holiday period – or outside office hours – please follow the guidance below.

    Smell Gas?
    In the event that you smell gas open all the windows, turn the gas off at the meter and call National Gas Emergency Service on 0800 111 999
    For all other emergency issues, please call 01633 742371 and our friendly team will assist you.

    Home/News/Labour in charge: what next for property?

    Labour in charge: what next for property?

    about 1 year ago
    Market Reports
    Labour in charge: what next for property?

    Politics, especially the period before an election, can be hard to keep tabs on. With a new Labour Government assembled, our job is to make sense of what was contained in the party’s manifesto, what was verbally discussed by then shadow ministers and what will actually be delivered now Sir Keir Starmer is Prime Minister.  

    The coming weeks will see matters crystalize and an important date is the 17th July. This is the State Opening of Parliament and the King’s Speech will take place during the ceremony. The monarch will read out the new Government’s policy priorities for the year.  

    Even prior to this date, ministers have been appointed and sweeping announcements have been made, with some indication of what lies ahead for the property sector. Here’s what we know so far:-  

    Mortgages for those with low deposits: the incoming Prime Minister, Sir Keir Starmer, has said he wants to "turn the dream of owning a home into a reality", and has backed his pledge by promising to make the mortgage guarantee scheme a permanent feature of home buying, not just a temporary initiative. The scheme will go under the name of ‘Freedom to Buy’ and will allow purchasers with low deposits to secure a mortgage, with the Government acting as a guarantor.  

    Rental reforms back on the cards: speaking on LBC Radio before the election, the new Housing Secretary and Deputy Prime Minister, Angela Rayner, confirmed she would ban Section 21 no-fault evictions ‘immediately’ if Labour got into power but that hasn’t been the case. At present, landlords can still serve tenants a Section 21. In the same interview, Rayner did acknowledge that the court system needed reform, hence why an instant ban didn’t happen. We expect a new timeframe for a Section 21 ban in the King’s Speech.   

    The Housing Secretary has also said in the past that she would extend Awaab’s Law to the private rental sector, forcing landlords to react more quickly when damp and mould is reported, and although she would be in favour of rent controls, the latter has been moderated to become an end to rent-raising bidding wars between tenants. Rayner is also expected to confirm her previous stance that private buy-to-lets will need a C-rated EPC by 2030.  

    New promises regarding new homes: one of the first major, post-election announcements came from the new Chancellor Rachel Reeves, and the creation of more homes was at the heart of Reeves’s speech. The Government is pledging to build an extra 1.5 million properties in England during its lifetime in Parliament. It is hoped this figure will be achieved by reintroducing mandatory house building targets for local authorities, reforming the planning process, executing a review of green belt land and hiring more planning officers.  

    Work to do, starting with stamp duty: Matthew Pennycook, the new Minister Of State for Housing and Communities, is yet to make a major announcement but he wrote on social media platform X:

    “Tackling the housing crisis and boosting economic growth is integral to national renewal. Time to get to work.”  

    A party spokesperson did confirm after the election that Labour would not be continuing the discounted stamp duty rate for first-time buyers. Currently, first-time buyers only pay stamp duty on any part of their purchase above £425,000 but this will revert back to £300,000 from April 2025.  

    We will continue to monitor the news coming out of Downing Street and will share our findings here. Please contact us if you’d like to discuss how the new Labour Government may affect your property plans.

    Share this article

    More Articles

    Cardiff Rental Market Sees Strong Growth in 2025

    Cardiff Rental Market Sees Strong Growth in 2025

    Published 20 days ago

    Over the past five years, Cardiff’s rental market has experienced a notable surge, with average rents climbing significantly faster than in many other parts of Wales and the UK.

    Read More
    Latest: July property market report

    Latest: July property market report

    Published about 1 month ago

    We have reached the midpoint of 2025. The first half of the year has been surprisingly steady but what happened in the last four weeks? We take a look at the trends shaping the current UK property market.

    Read More
    Latest: June property market report

    Latest: June property market report

    Published about 2 months ago

    Both portal heavyweights provided a monthly snapshot of the sales market in May. As ever, Rightmove focused on asking prices. The UK’s average asking price for new instructions increased 0.6%, with a more expensive advertised price of £379,517.

    Read More

    Sign up for our newsletter

    Subscribe to receive the latest property market information to your inbox, full of market knowledge and tips for your home.

    You may unsubscribe at any time. See our Privacy Policy.

    Back to Home

    Services 

    Renting with us
    Residential Lettings
    Portfolio Management
    Block Management

    Useful Links 

    Who we are
    Areas Covered
    Our Blog
    Testimonials

    Main Branch Details 

    Red Key, 21 Bridge Street,
    Newport NP20 4AN
    t: 0333 3447850
    Email us

    ARLA
    OnTheMarket
    PrimeLocation
    SafeAgent
    ThePropertyOmbudsman
    Zoopla
    Logo
    © 2025 Red Key Property Services
    Privacy Policy|Terms & Conditions|Cookie Policy|Complaints Procedure|CMP Certificate|CMP Security Certificate
    Powered by