CEO slams politicians who make ‘clueless promises’ to fix housing market

HomeLet and Let Alliance CEO says he is "beyond disillusioned" by Labour and Tory leaders and MPs who sometimes peddle "blatant lies".

andy halstead housing

A leading figure within the private rented sector has called out the UK’s politicians saying they are often clueless about the property industry and sometimes blatantly lie about tax and other issues as the General Election campaign continues apace.

Andy Halstead, Group CEO of the Barbon Insurance Group (main image) which includes HomeLet and Let Alliance, tells The Neg he is “beyond disillusioned with the lot of them” and particularly worried that the current batch of Tory housing ministers are ‘missing in action’ on the campaign trail.

“The housing market in the UK is in crisis, and specifically the private rental sector is on the brink,” he says.
“Demand cannot be met, and the cost of renting is a huge element of the cost-of-living crisis.

“Meanwhile politicians of both major parties seem to me to be clueless, and more serious, blatantly lie, and when called out, double down on the lie.”

Halstead says he is disappointed that the Prime Minister claimed people will pay £2,000 more tax under a Labour Government even though it’s clear this was untrue, but also slams Starmer for calling the two-child benefit cap “heinous” and “keeping children in poverty” but not dealing with this within his manifesto.

Endless list

“I could write an endless list. Rent controls in the private sector would be nothing more than a gimmick,” he says.

“The vast majority of property professionals advised the government to pull back from the tenant fees ban, warning that rents would rise significantly; they were right and the government did not listen.

“Banning Section 21 will reduce supply further, again, a gimmick, it will not work, it will scare a section of the landlord community, tenants will be worse off.

“Taxing rent as income and ignoring the costs associated with buy-to-let are pushing landlords out of the market, reducing supply further.

Halstead says politicians are making false promises to win votes adding that the current government is poor, the next will be no better and that in his opinion probably worse for the property industry.

“Both manifestos are worrying but what they do not say in their those is terrifying,” he adds.

HomeLet has published new data showing that although rent increases have slowed, rents remain at record levels and that demand continues to be ‘out of control’.

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