Tory majority as Miliband, Clegg, Farage quit………
Is a Conservative majority the best outcome for the UK housing market ?
When it comes to policies that will clinch a modern general election, property is usually more of a vocal backbencher than a leading MP. Although this hasn’t always been the case, housing is back at the top of the agenda.
HOUSING MARKET IMPACT
– New conservative government promises ‘ more of the same ‘ in terms of housing market policies.
– Raise new build delivery through focus on brownfield land
– New right to build initiative and self build friendly policies
– Previously the conservatives have focused on easing the path to home ownership through an extension of the right to buy facility. Applicable to tenants of registered social landlords and through an expansion of the current help to buy programme.
– Conservative policies likely to result in higher rents and freehold values. Their economic policies are likely to settle city nerves and continue to provide confidence and stability, essential to the housing market and of course should help maintain low interest rates.
– House prices do better as a consequence of low inflation, low interest rates and strong economies
– Huge wave of new developments likely thus second – hand properties placed on the market
– Rise in sales of £2 million plus priced properties and investors will return to putting money into housing projects
THE EAST MIDLANDS MARKET PLACE
– We predict significantly increased demand for easily lettable investment properties that require relatively minimal maintenance and promise sensible capital growth along with realistic yields.
– Recently we have already seen the effect of the radical pension law changes with an increased number of ‘retirement’ applicants looking to re-invest in residential property.
– Without question many of our clients are looking to assist their ‘children’ in getting onto the property ladder or to move ‘up’ the ladder.
– In terms of ‘main’ home marketplace vendors will progress more confidently with their plans to move feeling more comfortable with making quick decisions.
– Timing is ideal, as the traditional ‘busy’ season that is now upon us will be even ‘busier’
– An increased level of prospective buyers will put pressure on properties coming to the market.
– Well presented homes, in favoured locations will enjoy fierce competition and result in some exceptional sales results throughout the region
– Properties with scope for improvement, either aesthetically or with planning gain will be highly sought after needless to say in addition to buyers hunting their ‘dream’ building plot
At Kirk Estates we are very excited now business can resume post election. The effects of radical pension law changes and a New Conservative government make for a very busy property market. Its all very positive, the only challenge is and will continue to be is for agents being able to offer more properties for sale, with an accurate price guide.
If you are thinking of selling or buying whatever your situation and requirements are we urge you to contact us at your convenience as we would love to hear from you sooner rather than later !
James Kirk, Managing Director
Kirk Estates Head Office, Oakham, Rutland, LE15 6AQ