General Election 2017
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Latest property news
Conservative Party Manifesto: Theresa’s 12-point plan for property
If the expected Conservative victory on June 8th materialises then what should the property industry look forward to (or not) from a renewed Tory administration? The question was answered comprehensively today after Theresa May launched the Conservative Party manifesto, several pages of which are dedicated to the housing market. In summary, the Tories today promised a 12-point property plan, some details of which was specific, others which were not: 12-point plan Reform and modernise the home buying process so it is more efficient and less costly. Crackdown on unfair practices in leasehold, such as escalating ground rents. Improve protections for those who rent, and look at how to increase security for good tenants and how to encourage landlords to offer longer tenancies as standard. Fix the dysfunctional housing market so that homes are more affordable, and that there are enough homes built to meet demand. Bring the cost of renting of down by securing more homes available to rent – a veiled reference to Build to Rent. Support specifically the building of mansion blocks, mews houses and terraced streets – i.e. high quality but high density housing. Build 160,000 homes on government land. Introduce a £23bn National Productivity Fund which…
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Latest property news
Market is feeling cold winds of the general election, research reveals
The looming general election is beginning to affect confidence among home buyers and sellers, research has revealed. The number of people planning to sell their home within the next six months has dropped to 17%, says Zoopla, down from 23% in October last year. Its figures also reveal that a similar drop in the number of people planning to buy a property, down from 25% in October to 17% today. The portal says these drops in confidence are directly attributable to the looming general election called by Theresa May for the 8th June. Homeowners may be reluctant to move home in the current political and tax environment, but 87% of them across the UK are confident about the value of their home and expect house prices to increase over the next six months. According to Zoopla’s Housing Market Sentiment Survey, this is an increase of 4% since its last survey six months ago. General election “Despite a continued period of political uncertainty, it’s encouraging to see a rise in confidence for property price growth,” says Zoopla spokesman Lawrence Hall (pictured, left) “[But] we can’t ignore that there’s been a rise in reluctance to buy and sell properties. With the upcoming general…
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Latest property news
Jeremy Corbyn reveals Labour will crack down even harder on rental sector
Labour leader Jeremy Corbyn has announced that if he wins power the private rented sector would see the introduction of tougher regulation under his government. He told The Guardian newspaper today that this would include more secure tenancies, the adoption of the Conservative’s plans to ban outright fees charged to tenants, and the prevention of unreasonable rent increases. He said these would all be wrapped up within a new charter of private tenants’ rights. “We will tackle soaring rents in the private rented sector through regulation,” Jeremy Corbyn also announced on his campaign website. Labour also plans to build a million new homes including half a million new council properties during its first five years in office. “We will rebuild and transform Britain by building council homes and homes that first-time buyers can afford,” he says. Priorities “There are obviously many priorities but the crisis of housing and setting in train a housing programme that would build more council housing at socially affordable rents and ensuring there is proper regulation of the private rental sector is a very high priority for me,” Jeremy Corbyn told The Guardian. Labour strategists believe housing is one of the key concerns of ‘generation rent’ while official…
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