Labour has said it will restrict the sale of new-build properties to overseas investors, while increasing the level of stamp duty paid by foreign buyers.
The party, which is drawing up its general election manifesto, is looking to increase the surcharge on stamp duty paid by overseas buyers from the current 2% if it forms the next government. The Conservatives have considered similar plans but the Treasury is said to be concerned about the impact on the property market.
Labour leader Sir Keir Starmer is keen to introduce new rules to help young people get on the housing ladder. Under one plan being considered by Labour, only first-time buyers would be allowed to buy homes on new developments for a period of six months.
