Andy Burnham in Downing Street: Five Property Policies to Watch

With Andy Burnham stepping into Downing Street, the property sector will be looking closely for signals on the future direction of housing, taxation and regional growth.

At this stage, no policy announcements have been made. However, based on positions Burnham has previously advocated during his time as Mayor of Greater Manchester, there are several areas that property professionals, investors, developers and occupiers are already keeping an eye on.

Of course, the implications will ultimately depend on how any reforms are structured and implemented. However, here are five potential policy themes that could have significant implications across the property market.

1. Replacing Stamp Duty Land Tax and Council Tax with a Land Value Tax

One of the most discussed tax reform ideas associated with Burnham is the replacement of Stamp Duty Land Tax and Council Tax with a Land Value Tax.

What does this mean?

Under such a system, tax would be based on the value of the land itself rather than the property built on it or the transaction when it is sold. While debate has largely focused on residential property, questions remain over whether similar principles could eventually be extended to commercial assets.

Potential impacts

• Removing Stamp Duty Land Tax could make buying and selling property easier.
• Higher annual costs for owners of high-value property, particularly in London and the Southeast.
• Could prompt investors and landlords to review portfolios and bring more assets to market, increasing agency, investment and auction activity.
• Greater demand for valuation expertise as land values become more important.
• If extended to commercial property, impacts could vary significantly by asset type and location.
• High-value locations such as Central London could be particularly affected, especially where land values are substantial relative to rental income.

2. Changes to Business Rates

Burnham has previously been vocal about the challenges facing high streets and hospitality businesses, raising the possibility of future business rates reform.

What does this mean?

One potential direction could involve reducing the burden on town centre businesses while increasing it for large warehouses and distribution facilities. This reflects a wider argument that hospitality businesses contribute more than economic output alone. They create places where communities meet, socialise and connect.

Potential impacts

• Lower occupational costs for pubs, restaurants, retailers and other town centre businesses.
• Higher business rates could increase operating costs for warehouse and logistics occupiers.
• Increased occupational costs may weaken tenant demand in some industrial locations.
• Landlords may face pressure to adjust rental expectations to maintain occupancy.
• Rental growth across parts of the logistics sector could slow if occupiers absorb higher tax costs.
• Could support high street regeneration by recognising the wider social and economic contribution of hospitality and local businesses.

3. Greater Devolution

As Mayor of Greater Manchester, Burnham consistently argued for greater devolution and stronger regional decision-making powers.

What does this mean?

A move towards further devolution could see more powers and funding transferred from central government to regional mayors and local authorities, based on the principle that local leaders are best placed to understand their area's needs.

Potential impacts

• Faster local decision-making on planning and regeneration.
• Greater regional influence over housing, transport and infrastructure investment.
• Potential for more place-specific property policies.
• Increased importance of relationships with local and combined authorities.

4. Suspending the Right to Buy

Burnham has previously expressed concerns about the long-term impact of Right to Buy on social housing stock.

What does this mean?

Any move to suspend or significantly reform the policy would aim to retain more council-owned homes within the affordable housing system, helping local authorities maintain housing stock and meet long-term housing needs.

Potential impacts

• Preservation of existing social housing stock.
• Could increase the availability of affordable rented homes.
• Tenants may lose a pathway into home ownership through discounted purchases.
• Could reduce future opportunities to acquire discounted housing stock.
• Could strengthen councils' ability to deliver long-term regeneration strategies.
• Greater certainty over future housing stock levels.
• Local authorities would have more control over estate regeneration.
• Improved ability to maintain affordable housing numbers in high-demand areas.

5. A Significant Council House Building Programme

Alongside reforming Right to Buy, Burnham has previously advocated for a substantial increase in council-led housebuilding and a pledge to end homelessness.

What does this mean?

A large-scale programme of publicly funded housing delivery led by councils and housing providers, with a focus on increasing the supply of affordable homes and addressing housing shortages and homelessness.

Potential impacts

• Could increase housing supply, particularly in the affordable housing sector.
• May create opportunities for developers, contractors, consultants and investors involved in residential and hostel delivery.
• Increased delivery targets could place additional pressure on land availability, planning resources and local infrastructure.
• Could play an important role in addressing housing shortages and improving affordability.

Looking Ahead

While none of these policies have been announced, they reflect themes that Andy Burnham has discussed or supported throughout his political career.

As policy positions become clearer, we will continue to monitor developments and provide updates on any announcements, consultations or proposals that could affect the property market. We'll also share our insights on what any changes could mean in practice for property owners, occupiers, investors and developers. For now, these are the five areas we'll be watching most closely.