London Daily

Focus on the big picture.
Friday, Apr 03, 2026

Landlord power is not just bad for tenants. It harms homeowners, too

Landlord power is not just bad for tenants. It harms homeowners, too

Buy-to-let landlords hoarding properties harms the whole system. Labour would benefit from explaining this to voters

“If only under-30s [voted],” wrote the architectural historian and activist Owen Hatherley, reflecting on the results of the 2019 election, “there would be no Conservative MPs anywhere in Britain.” But, if only the over-70s voted, “there would be Tory MPs in every constituency apart from south Wales, Merseyside, the city of Manchester and inner London”. The story of British electoral politics over the past decade has been defined by the seeming replacement of class by age as the best indicator of how people vote.

The most striking explanation of why younger voters tilt so hard to the left (and older voters so hard to the right) is our system of home ownership. Housing, particularly in the populous south, is exorbitantly expensive and England’s social housing stock is at a 70-year low. All our lives are also shaped by the legacy of the Conservatives’ signature housing policy, right to buy.

From the perspective of “generation rent”, high house prices have meant the disappearance of the prospect of ever buying their own home, and a reliance on renting in the private sector, which takes up a far higher proportion of their incomes than their parents ever had to pay. It is not surprising that they have consistently voted for leftwing candidates. Among private renters, Labour’s poll lead over the Conservatives rose from 11 percentage points to a staggering 23 percentage points between 2015 and 2017. But in the same elections older voters who owned their own homes calculated that they had little to gain. What Labour seemed to offer, through policies of more social housing and greater rights for renters, was a fall in house prices: a diminution of their capital and security in retirement.

It might, therefore, look like the political age gap is unassailable. But this doesn’t have to be the case: in 2019, Labour could have had more success if its supporters had been clearer in grasping – and showing voters – that while tenants and landlords have competing interests, the same is not necessarily true of tenants and homeowners.

For some time, it has been government policy to privilege the interests of private landlords over other homeowners. This process began in the mid-1990s when banks introduced buy-to-let mortgages, which assessed buyers’ creditworthiness on the rental yield from the property, rather than their existing income. Easy finance gave landlords an advantage over first-time buyers.

Buy-to-let landlords have also enjoyed tax relief: mortgage interest relief, and a wear-and-tear allowance. The tax breaks have diminished in comparison to what they once were, but the broad picture remains the same. Although the UK’s 2.5 million landlords are a small minority, because the market has been loaded in their favour, they were responsible for 18% of all residential property purchases by the end of 2019.

Now let’s consider the situation for older homeowners who aren’t landlords. Hundreds of thousands of them save money in their 70s or beyond, long after retirement, not because they want to have an extravagant lifestyle but for the sake of the generations who come after them. If their plan is to help their children buy a house then rising house prices are of no benefit – it obliges them to save more, as ever more money is going to be needed to provide a deposit for their children’s first home.

For these people, the benefit of high house prices never materialises (they aren’t planning to sell their own home), but the cost to their family is only too real. It compels the younger members of their family to live in cramped housing, to have less money than they should, and to spend their days working excessive hours so that they have no time for older relatives.

What the left needs to do is to get people to see that the obstacle to housing justice is not individual home ownership. The problem is the near-monopoly advantage owned by those landlords who have hoarded dozens or, in some cases, hundreds of homes. Their power needs to be broken – not just for the sake of tenants, but for the sake of individual homeowners who want the generation below to find a home of its own.

There are solutions. Take the idea of long-term renters in the private market establishing a right to buy the home in which they live. How is the policy likely to look to older homeowners? If it was directed at the single homeowner who split a two-storey house in half and rented out one floor of it, many other homeowners would find the idea objectionable.

But imagine if it was targeted at landlords owning a minimum of five properties (there are enough landlords in that position for it to make a difference). When someone is hoarding five homes, why shouldn’t they be forced to allow others to have a chance of owning their own homes, not to seek profit but to simply live there?

Politicians need to be brave enough to explain to voters that the hoarding of properties by commercial landlords doesn’t just hurt young renters but many homeowners too. A Labour party that forges a cross-generational alliance on this basis could reap serious rewards.

Newsletter

Related Articles

0:00
0:00
Close
Trump’s Strategic Pressure on UK Seen as Push for Stronger Alignment and Fairer Terms
UK Focuses on Trade Finance to Secure Critical Materials for Defence and Energy Sectors
Majority of UK Businesses Hit by Middle East Conflict While Confidence Holds Firm
UK Royal Navy Faces Renewed Scrutiny as Debate Intensifies Over Capability and Readiness
Reform UK Faces Mounting Distractions as Policy Agenda Struggles to Gain Traction
Investigation Launched Into Northern Cyprus IVF Clinics After UK Families Receive Incorrect Sperm
International Meeting Issues Unified Call to Safeguard Navigation Through Strait of Hormuz
Potential Strait of Hormuz Closure Raises Concerns Over UK Food and Medicine Supply Chains
UK Leads Coalition of Over Forty Nations Urging Iran to Reopen Strait of Hormuz
UK Secures Tariff-Free Access for Medicines in Landmark US Pharma Trade Agreement
King Charles III Invited to Address Joint Session of U.S. Congress in Rare Diplomatic Honor
Debate Grows Over Whether Expanded North Sea Drilling Can Reduce UK Energy Bills
UK Faces Heightened Risk of Jet Fuel Shortages, Airline Chief Warns
UK Ends Police Investigations into Lawful Social Media Posts After Review Finds Overreach
Abramovich Moves to Establish Charity for Frozen Chelsea Sale Proceeds Amid UK Dispute
Starmer Reaffirms NATO Commitment While Responding to Trump’s Strategic Critique
UK Aid Reductions Raise Fears of Severe Human Impact Across Parts of Africa
UK Signals Renewed Push for EU Cooperation as Iran Conflict Reshapes Security Landscape
Bank of England Signals Caution as Bailey Advises Markets Against Expecting Rate Hikes
UK to Convene Global Coalition to Restore Shipping Through Strait of Hormuz
Trump Signals Possible NATO Reassessment, Emphasizes Stronger U.S. Strategic Autonomy
Australia Joins British-Led Efforts to Reopen Strait of Hormuz Amid Escalating Tensions
King Charles Plans US State Visit as UK Strengthens Ties with Trump Leadership
UK Regulator Launches Investigation Into Microsoft’s Business Software Practices
Kanye West Set for High-Profile Return to UK Stage at Wireless Festival
Trump Presses Europe to Strengthen Commitment as Iran Conflict Escalates
UK to Deploy Additional Troops to Middle East Amid Rising Regional Tensions
UK Authorities Face Claims of Heavy-Handed Measures in Monitoring Released Pro-Palestine Activists
Trump Calls on UK to Secure Its Own Energy as Iran Conflict Intensifies
Nigel Farage Declines Invitation to UK Conservative Conference Led by Liz Truss
Trump Warns Allies to Take Responsibility as Rift Deepens with UK and France Over Iran Conflict
How Britain’s Prime Minister Controls U.S. Bomber Access in Escalating Iran Conflict
Trump Urges Allies to Secure Their Own Oil Supplies as Hormuz Crisis Disrupts Global Energy
Russia Expels British Diplomat as UK Pushes Back Against Pressure
White House App Faces Scrutiny After Claims of Continuous User Location Tracking
BBC Faces Scrutiny Over Allegations of Paid Content Linked to Saudi Arabia
UK-France Coastal Patrol Agreement Nears Breakdown Amid Migration Pressures
UK Police Detain Pro-Palestine Activist Again Weeks After Bail Release
FTSE 100 Advances as Energy and Mining Shares Gain Amid Middle East Tensions
Eli Lilly Seeks UK Pricing Deal to Unlock Renewed Pharmaceutical Investment
Three Arrested in UK After Massive Cocaine Haul Discovered Hidden in Banana Shipment
UK Fuel Prices Poised for Further Surge Amid Global Energy Pressures
Apple Subsidiary Penalized by UK Authorities for Breach of Moscow Sanctions
Western Allies Intensify Coordinated Sanctions Strategy Against Russia
UK Lawmakers Face Criticism Over Renewed Push for Social Media Restrictions
Starmer Signals UK Crackdown on Addictive Social Media Features
Rising Costs Push One in Five UK Hospitality Businesses to the Brink of Closure
Man Arrested on Suspicion of Attempted Murder After Car Strikes Pedestrians in UK, Injuring Seven
Escalating Conflict Involving Iran Tightens Fiscal Pressures and Highlights UK Economic Vulnerabilities
UK Moves to Confront Russian ‘Shadow Fleet’ Operating in Its Waters
×