With the election only days away, it’s interesting to see each party outline their housing manifesto and the potential impact this will have on the market. The Conservatives have promised to build 200,000 new starter homes exclusively for buyers aged under 40, which would certainly help to build confidence in the market for those looking to step onto the property ladder, something which has been out of reach for many over the past few years. They also said they would extend the Help to Buy ‘equity loan’ scheme until 2020 and in the budget in March they also promised a new Help to Buy Isa, which would go some way towards helping people save enough for a deposit.
Labour have also addressed the housing crisis with a promise of at least 200,000 new homes a year to be built by 2020, with first priority for local first-time buyers, plus stamp duty assistance for first time buyers. The Liberal Democrats meanwhile would boost house building towards a target of 300,000 and, where the market fails to deliver sufficient numbers, government agencies would directly commission homes for sale and rent. All good news for the housing market with the three main parties all poised to rebuild confidence.
We only have one vote that matters on May 7th, and we cannot control the outcome of that vote; however we can control the number of new appointments we have booked for the 8th May!