In Finbri's 2024 Landlord Report, 43% of UK landlords expressed optimism about the potential benefits of Labour's victory in the 2024 General Election. However, a notable portion of landlords believed that a Conservative win would have been more advantageous.

Labour's decisive win, securing 411 seats compared to the Conservatives' 121, marks a significant change in the political landscape.

The UK has 2.8 million landlords and 8.6 million renters, and the new Labour Government's policies are expected to have widespread impact. Prime Minister Sir Keir Starmer emphasized Labour’s intent to “tackle the rented sector” and protect renters, while the Deputy Prime Minister stated: “Our plans will support good landlords, but we are calling time on unscrupulous landlords strangling growth.”

Landlords had mixed reactions to Labour's victory. According to Finbri’s survey of 755 UK landlords, 43% believed a Labour win would benefit them, 34% viewed it negatively, and 23% were uncertain.

A private landlord with over ten years of experience commented, “Generally, I’m happy about Labour winning, although I do have concerns about their policies for second home and inheritance tax.

“I understand the concerns of other landlords about how the new Government might impact them.

“But landlords were already feeling the need to leave the market under the Conservatives.

“There’s uncertainty about how Labour will handle the rental market, but I’m willing to give them a chance right now.”

In contrast, 34% thought Labour’s win would negatively impact them, a sentiment reflected in discussions on landlord forums. Concerns included the abolition of Section 21 'no-fault' evictions, which restricts landlords’ ability to reclaim their properties.

Additional worries involved potential increases in capital gains tax (CGT) and the unclear effects of Labour’s housing policies.

The survey also indicated that landlords generally favoured the Conservatives, with 48% believing a Conservative win would have been more beneficial.

Under Labour's government, landlords should prepare for significant changes aimed at transforming the rental sector. Deputy Prime Minister Angela Rayner highlighted Labour’s commitment to creating a secure rental market and assured that their plans would “support good landlords.”

Labour has committed to building 1.5 million new homes over the next five years to address the housing crisis. Their manifesto promises the “biggest boost to affordable housing in a generation” and prioritizes first-time buyers.

This initiative aims to increase opportunities for both first-time buyers and buy-to-let (BTL) investors.