Housing among key election issues for voters, research confirms
More than one in four voters say housing must be one of the top priorities for the next Government, according to new national research carried out by Leeds Building Society.
Housing was chosen as the fourth most important issue overall with 27% putting it in their top three issues, behind only the health service, the economy and immigration.
There was a clear split in importance between voters of the two main parties, with 33% of those intending to vote for Labour saying housing is a priority compared to just 17% of likely Conservative voters.
A nationally representative sample of 2,000 people took part in the research between 29 May and 1 June 2024.
Leeds Building Society last year lent £4.4bn to people across the UK, with more than half of new mortgages supporting first time buyers. It has taken a number of steps recently to improve the chances of aspiring homeowners, including stopping lending on second homes and running a trial to restrict holiday let mortgages, as well as advocating a series of public policy housing solutions.
Six out of 10 voters (62%) said the cost of housing is important to them and 26% said it was likely or very likely to impact how they vote, including almost one in five (19%) of those who are undecided on who they will support.
Building more affordable homes rated highest among solution areas for the next Government, with 41% of respondents choosing it as a priority.
Giving support to first time buyers through Government incentive schemes like Help to Buy was the second favourite individual priority, chosen by 26% of voters.
Building more of some form of housing – such as those for social rent or for later life – was selected by 71% of people as a priority.
Leeds Building Society Chief Executive Richard Fearon said: “We’re dealing with a homeownership crisis which has been decades in the making and our research shows voters want it addressed by the next Government.
“We need all political parties to articulate how they would realistically help more people achieve the dream of owning a home and create stronger communities as a result.
“There is overwhelming public support for building more homes and other potential solutions – that needs to be matched by the conviction of the next Government to finally address the homeownership crisis.”
The cost of renting (50%) and house prices (49%) were chosen as the top two housing-related issues facing the country, followed by cost of mortgages (41%) and saving a deposit (33%).
Younger voters are more likely to view housing as being important, with 40% of under-35s selecting it as a priority compared to 29% of 35-54 year olds and 16% of 55 and overs.
Respondents living in private or social rented homes intending to buy in the next five years were most in favour of housing being a top priority (46%) followed by those planning to buy living with family (39%).
Research was carried out by Leeds Building Society between 29 May and 1 June 2024. A total of 2,001 surveys were conducted via an online survey platform (PureSpectrum) and are reflective of the UK population.