After 14 years of Conservative leadership, it's all change at the top of government following Labour's landslide victory and the appointment of a new cabinet and ministers.

Sir Keir's team will have a major say in how the new administration deals with changes to planning, housing and levelling up, as well as other issues important to the property sector including Net Zero and business rates.

CoStar News takes a look at Labour's leadership to see who is taking on what role and what business will be waiting in their inbox as they take office and look to reform the UK's planning and housing system.

Rachel Reeves becomes the first female chancellor in UK political history. The MP for Leeds West and Pudsey has served as shadow chancellor since 2021 and is a former Bank of England economist.

Reeves was quoted in the BBC last week saying "there’s not a huge amount of money" for the party to work with after taking over from her predecessor Jeremy Hunt. Her boss has given her the mandate of turbocharging the UK economy and tackling its high debt.

In a speech to business leaders at the Treasury today, Reeves said she wants to make kickstarting the economy a "national mission" and sees the UK as one of the most stable places for international investment.

She also announced Labour would reinstate compulsory housebuilding targets and said the party will "grasp the nettle of planning reform", by implementing a "new growth-focused approach to the planning system."

Reeves said: "Our manifesto was clear: sustained economic growth is the only route to the improved prosperity that country needs and the living standards of working people.

"Where previous governments have been unwilling to take the difficult decisions to deliver growth… or have waited too long to act… I will not hesitate."

Angela Rayner, the MP for for Ashton-under-Lyne in Greater Manchester, will be Sir Keir's deputy prime minister as well as taking on the brief of secretary for levelling up, housing and communities.

She steps into the shoes of former Conservative MP Michael Gove, having served as shadow deputy prime minister and levelling up secretary since 2023.

At the recent real estate conference UKREiiF, Rayner gave a keynote speech in which she pledged to build a generation of new towns, should her party win the general election, and laid out some of her likely priorities in government.

These included working in partnership with “responsible” developers to build hundreds of thousands of homes, with developments aiming to be 40% affordable and meet key energy efficiency standards, with good transport links.

She will also have a say in planning reform, having previously described the system as "gummed up", and has promised to ban no-fault evictions and get rid of leaseholds.

Melanie Leech, chief executive, British Property Federation, said in a statement that the organisation was looking forward to working with the new secretary for state on "harnessing the power of public-private partnerships to deliver for local communities".

She added: "The size of Labour’s majority is a strong platform to take the swift and decisive action in key areas such as planning, that will give long-term investors confidence and unlock more private capital to deliver housing and local infrastructure such as logistics facilities, revitalise high streets and decarbonise our older building stock."

Between Rayner and Reeves, the Labour government will surely take a look at the levelling up funding system following a report by Local Government Association last year which called for the competitive bidding system to be scrapped in favour of an “evidence of need” model.

Ed Miliband, the former Labour leader, has been handed the job of energy and net zero secretary, with the property sector seeking clarity on the direction of travel around minimum energy efficient standards, or MEES.

In its election manifesto, Labour said it would make Britain a "clean energy superpower" by accelerating Net Zero and making the country the "green finance capital of the world". But it did not specifically reference MEES or its plans on the policy.

Developers and investors warned last year that Rishi Sunak's decision to scrap requirements on landlords to upgrade the energy efficiency of their properties would cause "untold disruption".

The Green Property Alliance also warned in April that property investment plans and building upgrades were being affected by the government's delays in clarifying the future MEES for the non-domestic private rented sector in England.

Miliband, the MP for Doncaster North, said on X, formerly Twitter: "This government has won a mandate to deliver a bold plan for energy independence, lower energy bills, good jobs and to tackle the climate crisis. That work begins now."

Matthew Pennycook, the MP for Greenwich and Woolwich, comes in as housing minister following Labour's election win.

Pennycook has been been shadow minister for housing and planning since 2021 and will work under Rayner in the department of housing. The party has a target of helping the UK to build 1.5 million homes over the next parliament, equating to 300,000 homes each year for five years.

This target was smaller than both of the other main political parties in the UK, with the Conservatives pledging to build 1.6 million homes if they retained power, and the Liberal Democrats 1.9 million homes, if they won.

As part of its election manifesto, Labour said it will take a "brownfield-first approach" to development and would look to fast-track approval of urban brownfield sites where possible.

It has also indicated a more relaxed approach to building on green belt land, compared to the opposition, and is planning to build a "new generation of new towns", developing a "series of large-scale new communities across England".

Pennycook said in a post on X: "Tackling the housing crisis and boosting economic growth is integral to national renewal. Time to get to work."

Jim McMahon, the MP for Oldham West, Chadderton and Royston, becomes levelling up minister, also working for Angela Rayner.

McMahon has previously served as shadow secretary of state for transport and more recently shadow secretary of state for environment, food and rural affairs. He was awarded an MBE in 2016 for his services to Oldham.

Those in the levelling up department will have their work cut out taking over the mandate from the previous government, with a report by the Institute for Fiscal Studies arguing that progress towards the goals of the project "has been glacial".

Mubin Haq, CEO of abrdn Financial Fairness Trust, which funded the research along with the Nuffield Foundation, said in a statement at the time: "The regional inequalities in the UK are stark and on numerous measures there are wide disparities.

"Quite rightly, the [former] government has tried to address these gaps through its levelling up agenda. However, this has not been matched with the resources to deliver the step change needed. On too many indicators, inequalities are growing or at a standstill."

McMahon said on X: "Looking forward to working with Angela Rayner, Matthew Pennycook and the team to deliver the change the country voted for, and to serve with a sense of public duty. Exciting times."