Having secured the popular vote and enough to form a majority government, the Conservatives now have to walk the walk they have talked so fiercely over the last few months.
Research conducted prior to the election, by eMoov.co.uk, found that the majority of UK homeowners (57%) were unsure as to the repercussions this election could have on them.
When asked about their worries 27% stated a rise in interest rates as a concern, although it looks like they can now rest easy, with a further 20% worried that house prices would continue to increase.
50% of those asked thought that more needed to be done for first time buyers and so the Conservatives efforts in campaigning to this end of the market, with a Help to Buy ISA and a promise to extend it in particular, seems to have paid off.
Founder and CEO of eMoov.co.uk, Russell Quirk, commented:
“Those at the top end of the UK property market will be breathing a sigh of relief having avoided a hefty, Labour lead, Mansion Tax.
I don’t think there will be huge implications at the other end of the market. The Conservatives introduced the new Help to Buy ISA to encourage first time buyer votes and plan to extend it. I can’t see them making a U turn on their Stamp Duty Tax amendments either so the lower end of the market should benefit to some extent.
Research by eMoov.co.uk has found that under their tenure, a Conservative government is twice as successful in seeing an increase in house prices, certainly a plus where homeowners are concerned.
However a recent poll of MPs and the general public found that many believe that Britain is currently experiencing a housing crisis. There is a rather strong argument that the current government’s policies on the property construction, or lack of it, has contributed to this current crisis.
One hopes that the election bribes orchestrated by the Conservatives will actually be promises that are kept. Based upon the rhetoric from previous campaigns versus the elected reality, I doubt that the pledges will be matched by the outcome regardless of who has now formed the government.
If they are to really help the housing market they need to deliver on the regenerating of brownfield land to facilitate the construction of the 400,000 new homes. Under the last government there was a woefully inadequate shortfall of around 70-80,000 homes a year and this can’t continue”