Four fifths (86%) of developers believe that the next government needs to do more to support first-time buyers (FTBs), Shawbrook research reveals.

The research, which was carried out among more than 500 UK property developers, found that developers seem to favour a Labour government with 90% indicating they believe it would benefit the housing market overall.

Meanwhile, 35% of developers think the next government should focus on streamlining the planning process.

It also revealed that 30% support the removal of planning red tape to incentivise developers.

Shawbrook managing director of development finance Terry Woodley comments: “The upcoming election has the potential to breathe more life into the construction and property development sector, especially as house building numbers have reduced in recent years.”

“The UK is in urgent need of solutions to address the housing shortages, and this could be an effective piece to the puzzle.”

“Challenges surrounding a lack of support for first time buyers as well as a failure to streamline the planning process have led to waning activity levels, and subsequently have caused developers to call on the government to deliver supporting legislation.”

“It’s encouraging to see the Labour party including such reform within their manifesto today, with plans to build on both brownfield sites as well as the ‘grey’ belt’. However, promises to boost housebuilding have been heard before.”

“The proof will be in the pudding as to whether manifesto pledges from either of the main parties will result in meaningful change for the property market.”