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The Green Party has committed itself to “abolishing landlords”. At its autumn conference, party members passed a motion that would make seeking the “effective abolition of private landlordism” official policy.
At its autumn conference, party members passed a motion that would make seeking the “effective abolition of private landlordism” official policy. Tenants would be given first right to buy when a landlord sells, with their “total rent paid discounted” and government-backed financing provided. Local authorities would also gain the right to buy homes when landlords sell, where properties fail insulation standards, or if they remain vacant for more than six months. The party also wants to introduce rent controls and end buy-to-let mortgages. The motion said that landlords added “no positive value to the economy or society” and that the “relationship between landlord and tenant is inherently and intrinsically extractive and exploitative”.
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While we as an industry might know this is pie in the sky stuff, that reads more like the communist manifesto than a credible housing policy, unfortunately, the Green Party can’t be written off as a bunch of crackpots and loons. Not any more. The Green Party in England and Wales has had a nearly 50 per cent rise in membership since Zack Polanski, their new leader, took over. The Greens in England and Wales have more than 100,000 members for the first time. At the very least, that’s good for the party’s coffers. It also makes them bigger than the Liberal Democrats, who only have 60,000 members. And if the same momentum continues, the Greens could be on course to become bigger than the Conservatives. Tory party membership figures are not made public, but recent reports say the total is only slightly above 120,000. Of course, membership numbers do not necessarily translate into electoral success.
Green Party's surge in popularity has caused worry
While Labour had 500,000 members under Jeremy Corbyn, magic grandpa still managed to lose two general elections. But one recent poll put support for the Greens at 15%, their highest ever figure, not far behind the Tories. Another has put the Green Party neck and neck with Labour, as the party climbs in the polls following the election of Zack Polanski. And they already have almost as many MPs as Reform who look as though they might form the next government. The Green Party’s surge in popularity has certainly caused worries among some senior Labour figures, who believe it could take votes and seats from the party in next May’s local elections in England, particularly in some London boroughs.
The Green Party doesn’t necessarily have to win that many seats to affect change
First, there is a chance of a coalition being formed after the next election. One in seven people polled by YouGov (14 per cent) think there will be a hung Parliament resulting in a Labour-led government at the next election. To put that in perspective, only 12 per cent of those polled predicted a Labour majority. The Greens could be in government, impacting policy directly. Second, let’s not forget that the Green Party may well influence the Labour Party, even ahead of any elections. Labour needs to cover off the left wing of their own membership. These two things make the Greens announcement potentially so damaging. That’s why we need to be out there, making the case for the private rented sector. The PRS is a vital segment of the country’s housing spectrum. We should be supporting property investors who drive a significant chunk of new-build, as well as the conversion of existing buildings to homes. This policy is unhelpful and, frankly, economically illiterate. If politicians can’t lead from the top, they’d be better off getting out of the way as lenders like Black & White Bridging and our intermediary partners do our bit to solve the housing crisis, one loan at a time.
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