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Labour promises to grant first-time buyers exclusive rights to new-builds

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Neither party has committed any extra funding to boost housebuilding numbers, which will make it difficult to reach the target.
Neither party has committed any extra funding to boost housebuilding numbers, which will make it difficult to reach the target.

Labour has promised to give first-time buyers “first dibs” on new-builds for six months.

The party said it would prevent properties being sold off-plan to developers before locals can buy them, under plans to be set out at its annual conference.

It will also state a government led by Keir Starmer would cap the amount of property overseas investors can purchase in new developments, in another attempt to aid first-time buyers.

Labour’s shadow housing secretary Lucy Powell is expected to pledge to reform rules on how developers contribute towards affordable housing and to give councils new powers to buy land for homes.

The party conference will start in Brighton on Saturday amid an ongoing policy review of pledges from Jeremy Corbyn’s leadership.