Labour leader Ed Miliband will today pledge to exempt first-time buyers from up to £5,000 in stamp duty.
The exemption would be funded from taxes on rogue landlords and foreign investors, and covers properties worth up to £300,000.
Labour has already pledged to cap private sector rents ahead of the general election next week. The party also wants to raise stamp duty on non-EU property investors to at least 3% .
Miliband says that under a Labour government, local people who have lived in an area for more than three years would also get the first right to buy up to half of new homes built in the area.
