Labour to crack down on foreign buyers of Britain’s homes

Keir Starmer would impose new restrictions on overseas investors and give ‘first dibs’ to first-time buyers

Keir Starmer and shadow chancellor Rachel Reeves at a housing development in Milton Keynes (PA)

A Labour government would impose new restrictions on foreign buyers of property in the UK as part of a push to help more young Britons on to the property ladder.

Keir Starmer’s party would raise stamp duty on overseas buyers and stop them snapping up more than 50 per cent of homes on any new development.

The party would also give Britain’s first-time buyers “first dibs” on new build homes for a certain period of time to stop so many being purchased by foreign investors.