Property experts have urged Andy Burnham to make housing a priority and inject some confidence into the market if he makes it into Number 10.

The new Makerfield MP – who is being touted as the next Labour leader - should resist the temptation to answer every problem with another intervention, says Michael Cook, CEO at LRG.

Cook (pictured right) says Burnham should stop taxing mobility and investment, and reconsider Stamp Duty and Section 24. “This has made private renting less attractive to many individual landlords,” explains Cook. “The result is not simply lower returns for investors - it can mean fewer quality homes available to rent and greater pressure on tenants.”

He also urges Burnham to use restraint when making decisions. “Rent controls, repeatedly changing EPC and Minimum Energy Efficiency Standards and proposals that reduce choice in deposit protection risk unintended consequences.”

Leasehold

While Burnham didn't say anything explicitly regarding leasehold reform during the by-election campaign, it can be expected that were he to become PM, the policy direction would remain on course, suggests Mark Chick, ALEP director and Senior Partner at Bishop & Sewell LLP.

Burnham has actively backed proposals to ban the sale of new leasehold flats and houses, repeatedly highlighting the need for a fairer system that better protects leaseholders.

Some sector commentators have suggested that speeding up the process could give him a major positive in his first, crucial, 100 days, but that will depend on if and when he becomes PM, and where the legislation is in its timetable when that happens.

Mayor

“What isn’t in doubt is that housing is, and has been for a while, a priority for Burnham and during his time as mayor of Manchester he has implemented many significant policies – it is therefore likely that this priority will not change if he goes through the doors of number 10, and that the housing sector in the UK could be in for some significant changes over the coming years,” Chick (pictured left) adds.

While Burnham has previously made comments about not being a slave to the bond markets, Mark Harris, chief executive of mortgage broker SPF Private Clients, suspects he will have to row back on that once he is Prime Minister.

“If talk of further borrowing in his speeches comes to pass, gilts and bonds will become more expensive, leading to higher Swap rates and accordingly mortgage rates,” says Harris. “The markets will also be nervous about the next Chancellor. They are comfortable with Reeves but should a more left-leaning PM and Chancellor be installed, this will have an upwards impact on pricing.”

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