Shadow Housing Secretary, Lucy Powell, has told the Labour Party conference that the party is to be “bold, radical, forward thinking, and empowering” in tackling the housing crisis.

Building on the plans set out by the party earlier in the week, she said nowhere have the “harsh inequalities” widened more than in housing.

She added: “We’ve lost somewhere that housing isn’t simply an asset to be traded, but the fundamental cornerstone of a successful life.”

Powell also spoke about how housing is “very much a public health issue” and now Covid shone a “bright light” on those who had comfortable homes and those who were on the streets.

On the current government’s record on housing, she said: “The Conservatives see housing as a commodity: to be traded, profited from, part of an investment portfolio, a pension pot, not as the bedrock of stable lives and life chances.

“Their record speaks for itself: Record numbers living in insecure private rents, a huge net loss of social housing.

“And with over-heated prices and homeowner numbers down – they can’t even claim the mantle of homeownership anymore.

“The link between wages and housing costs is now broken, leaving millions exposed to the universal credit cut.

“And their woeful record of switching our homes to green, means we are very vulnerable to the current energy crisis.

“Four years on from the tragedy at Grenfell, we’ve got a Building safety scandal – a tragic symbol of housing policy gone wrong: deregulation, no oversight, an unwillingness to intervene.

“Leaving hundreds of thousands of innocent leaseholders trapped in unsellable homes. The so-called party of home-ownership rings very hollow to them.

“But I hear we have Michael Gove coming to the rescue! Do me a favour. Ask the teachers! Less a knight in shining armour, a wrecking ball more like!”

She said that Labour would reverse some of this inequality, with a new Building Works Agency to “assess, fix and fund and then certify” all tall buildings and ensure that leaseholders “won’t pay” for any safety works.

Powell spoke of a “New Settlement” and “a massive increase in council and social homes” were at the centre of his new settlement.

There was a hint of ending the Right to Buy, as well as a commitment to increase home ownership.

She said: “I see no contradiction in us also promoting home-ownership – not for more landlords or second homes, but for ordinary working people – nurses, electricians, delivery drivers and care workers – currently priced out.

“Their aspirations for home-ownership will be met by Labour. Central to this is bold action on restoring the link between wages and housing costs.

“And tackling the thorny issues of quality, affordability and security in private rentals. Ending rough sleeping. And No-Fault Evictions. Meeting our climate targets. Housing as a human right – all at the heart of our New Settlement.”

And while she admitted it’s “not easy”, she announced the launch of the Great Housing Challenge to “learn from Labour councils, our fantastic Mayors and trailblazing Welsh Government. Developing our housing plan together.”

She added: “For too long, speculators and developers have held most of the cards – ducking minimal commitments, extracting huge value from the public for land, and doing too little for first time buyers and local people.

“That’s why Labour will give local authorities new powers to buy and develop land for housing, and revitalise town centres, by reforming arcane compensation rules.

“This could generate up to 100,000 new homes a year, much of which social and affordable.

“The current definition of affordable is anything but, linked to over-heated market rates.  We will set a new definition linked to local wages.

“We will close loopholes that let developers wriggle out of commitments.

“We will give first time buyers first dibs on new developments, and put an end to the outrageous practise of foreign hedge funds purchasing swathes of new homes, off plan.”

She called Conservatives the “Party of speculators and developers”, with Labour being the “Party of home-owners and tenants”