Category: government and politics government and politics
government and politicsFollowing his first major policy speech as potential Labour leader, Andy Burnham has pledged what he describes as the biggest transfer of power away from Whitehall in decades.
His proposals would give more decision-making powers to regional mayors and local authorities, with housing, planning and regeneration expected to play a central role.
While these plans are still at an early stage, they raise an important question for landlords: could greater local control create new investment opportunities across the UK?
What is Burnham proposing?
Burnham believes stronger regional decision-making is key to boosting economic growth, arguing that local leaders are often better placed to understand the housing and infrastructure needs of their communities than central government.
His plans include expanding devolution across England, while also strengthening existing powers in Scotland, Wales and Northern Ireland.
Although many of the details are yet to be confirmed, housing, planning, transport and regeneration are all expected to remain priorities.
Why does this matter for landlords?
For landlords, the proposals are less about immediate legislative change and more about where future investment could be directed.
If local authorities gain greater influence over housing strategy, planning and regeneration, some regions may become more attractive for long-term property investment.
Improved transport links, town centre regeneration and new housing developments can all influence tenant demand and long-term property values.
The evidence in Greater Manchester
Burnham has pointed to Greater Manchester as an example of how devolved powers can support economic growth.
Since receiving greater control over housing, planning and transport, the region has attracted significant investment and has outperformed many other English city regions in recent years.
Economists have suggested that better coordination between housing, transport and local investment has helped strengthen Greater Manchester's economy, making it an interesting example of how regional decision-making can shape local property markets.
Could this create new property hotspots?
If similar powers are rolled out nationwide, landlords may increasingly look beyond traditional investment locations.
Rather than focusing solely on current property prices, investors may begin paying closer attention to areas benefiting from regeneration projects, infrastructure investment and long-term local growth strategies.
As always, every investment should be assessed on its own merits, taking into account rental demand, finance costs, local planning policies and long-term portfolio objectives.
What hasn't changed?
At this stage, nothing changes for landlords on a legislative level.
There have been no announced changes to the Renters' Rights Act, EPC proposals or mortgage regulation as a result of Burnham's devolution plans.
While the proposals provide an indication of the government's longer-term direction, any significant policy changes would take time to develop and implement.
What should landlords watch?
Over the coming months, landlords may wish to keep an eye on:
- Regional regeneration and infrastructure announcements
- Changes to local planning and housing strategies
- Areas receiving increased public investment
- Future housing policy linked to devolution
- Opportunities emerging outside traditional investment hotspots